TaxTMI 
TaxTMI 
Fund raising by issuance of Debt Securities by Large Entities
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....0, 2018. Based on feedback received on the discussion paper and wider consultation with market participants including entities, the detailed guidelines for operationalising the above budget announcement are given below. 2. Applicability of Framework 2.1. For the entities following April-March as their financial year, the framework shall come into effect from April 01, 2019 and for the entities which follow calendar year as their financial year, the framework shall become applicable from January 01, 2020. Explanation: The term 'Financial Year' (FY) here would imply April- March or January-December, as may be followed by an entity. Thus, FY 2020 shall mean April 01, 2019 - March 31, 2020 or January 01, 2020 - December 31, 2020, a....
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....ing of Debt Securities) Regulations, 2008 (hereinafter "ILDS Regulations"). Explanation: For the purposes of this circular, the expression "incremental borrowings" shall mean any borrowing done during a particular financial year, of original maturity of more than 1 year, irrespective of whether such borrowing is for refinancing/repayment of existing debt or otherwise and shall exclude external commercial borrowings and inter-corporate borrowings between a parent and subsidiary(ies). 3.2. For an entity identified as a LC, the following shall be applicable: i. For FY 2020 and 2021, the requirement of meeting the incremental borrowing norms shall be applicable on an annual basis. Accordingly, a listed entity identified as a LC on last....
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....e formats as provided at Annexure B1 and B2. 4.2. The disclosures made in terms of para 4.1 shall be certified both by the Company Secretary and the Chief Financial Officer, of the LC. 4.3. Further, the disclosures made in terms of para 4.1 shall also form part of audited annual financial results of the entity. 4.4. The details of the framework as mentioned under para 3 and disclosure requirements as mentioned under para 4.1, are illustrated in Annexure C. 5. Responsibilities of Stock Exchanges 5.1. The Stock Exchange(s) shall collate the information about the LC, disclosed on their platform, and shall submit the same to the Board within 14 days of the last date of submission of annual financial results. 5.2. In the event ....
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....e confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. (Signature) Name of the Company Secretary Designation Contact Details (Signature) Name of the Chief Financial Officer Designation Contact Details Date - dd/mm/yyyy # - In terms para of 3.2(ii) of the circular, beginning F.Y 2022, in the event of shortfall in the mandatory borrowing through debt securities, a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore, an entity identified as LC shall provide, in its initial disclosure for a financial year, the name of Stock Exchange to which it would p....
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....for FY: T 4. Details of the Current block (all figures in Rs crore): S.No. Particulars Details i. 2-year block period (Specify financial years) (T), (T+1) ii. Incremental borrowing done in FY (T) (a) iii. Mandatory borrowing to be done through debt securities in FY (T) (b) = (25% of a) iv. Actual borrowing done through debt securities in FY (T) (c) v. Shortfall in the borrowing through debt securities, if any, for FY (T-1) carried forward to FY (T). (d) vi. Quantum of (d), which has been met from (c) (e) vii. Shortfall, if any, in the mandatory borrowing through debt securities for FY (T) {after adjusting for any shor....
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.... 2021 Outstanding borrowing as on March 31st of previous FY 1000 1200 Whether framework applicable? Yes Yes Incremental Borrowing in the current FY (a) 400 500 Mandatory borrowing through debt securities in the current FY (b) = 25% of (a) 100 125 Actual borrowings done through debt securities in the current FY (c) 80 150 Shortfall in mandatory borrowing through debt securities, if any, for the current FY (d)= (b)-(c) 20 - Compliance Status Shortfall, hence explanation to be provided. Complied with the requirement of 25% borrowing through issuance of debt securities. From FY 2022 onwards (all figures in Rs. Cr) Current FY 2022 2023 2024 2....