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<h1>SEBI Updates Non-Convertible Securities Regulations: New Definitions, Filing Changes, and Disclosure Rules for Issuers Until 2024.</h1> The Securities and Exchange Board of India (SEBI) issued the Second Amendment to the Issue and Listing of Non-Convertible Securities Regulations, 2023. Key changes include the introduction of definitions for 'key managerial personnel' and 'senior management,' modifications to filing requirements for private placements, and updates to disclosure obligations. The amendment mandates that issuers file a general information document for private placements until March 31, 2024, on a 'comply or explain' basis, transitioning to mandatory compliance thereafter. Additional disclosures and compliance requirements are outlined for large corporates and issuers of commercial paper, with extensive details on financial reporting, risk factors, and related party transactions.