https://www.taxtmi.com/circulars?id=71540 Merchant banker appointment remains mandatory for private-placement issuance unless an issuer satisfies all exemption conditions. The issuer must be regulated by an Indian financial sector regulator, listed for at least one year without pending listing-compliance fines or penalties, and free from specified payment defaults during the preceding three financial years and current financial year, as certified by its statutory auditor. The debt must generally be senior or unsubordinated and secured by a first or pari passu charge, with specified public-sector exceptions, and must have a minimum AA- rating. en-us Wed, 07 Oct 2026 00:00:00 +0530 Thu, 08 Oct 2026 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71540 Merchant banker appointment remains mandatory for private-placement issuance unless an issuer satisfies all exemption conditions. The issuer must be regulated by an Indian financial sector regulator, listed for at least one year without pending listing-compliance fines or penalties, and free from specified payment defaults during the preceding three financial years and current financial year, as certified by its statutory auditor. The debt must generally be senior or unsubordinated and secured by a first or pari passu charge, with specified public-sector exceptions, and must have a minimum AA- rating. Circulars SEBI Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71540