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Securities and Exchange Board of India (Issue and Listing of Debt Securities by Municipalities) (Amendment) Regulations, 2017

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....IES BY MUNICIPALITIES) (AMENDMENT) REGULATIONS, 2017 No. SEBI/LAD-NRO/GN/2016-17/032.─ In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Issue and Listing of Debt Securities by Mun....

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....ve negative net worth in any of immediately preceding three financial years." (II) In regulation 4, for clause (d), the following shall be substituted, namely- "(d) municipality shall not have defaulted in repayment of debt securities or loans obtained from banks or financial institutions, during the last three hundred and sixty five days: Provided that where the issuer is a corporate municipal....

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