https://www.taxtmi.com/acts?id=33808 Issuers of municipal debt securities must establish a structured payment mechanism and maintain designated escrow accounts for debt servicing as specified by the Board; the current provision substitutes an earlier regime that required creation of charges on assets or receivables, limits on secured issuance relative to asset value, undertakings concerning encumbrances or creditor consent, and a prohibition on utilising issue proceeds before security documents are executed. en-us Mon, 24 Dec 2018 13:10:49 +0530 Mon, 12 Aug 2024 16:23:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=33808 Issuers of municipal debt securities must establish a structured payment mechanism and maintain designated escrow accounts for debt servicing as specified by the Board; the current provision substitutes an earlier regime that required creation of charges on assets or receivables, limits on secured issuance relative to asset value, undertakings concerning encumbrances or creditor consent, and a prohibition on utilising issue proceeds before security documents are executed. Act-Rules SEBI Mon, 24 Dec 2018 13:10:49 +0530 https://www.taxtmi.com/acts?id=33808