Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions and unlisted debt securities

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....ck exchanges. Specific disclosures are required under the SEBI LODR Regulations in certain matters such as delay / default in payment of interest / principal on debt securities such as Non-Convertible Debt (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS) etc. It has been observed that similar disclosures are generally not made by listed entities with respect to loans from banks and financial institutions. 2. Corporates in India are even today primarily reliant on loans from the banking sector. Many banks and financial institutions are presently under considerable stress on account of large loans to the corporate sector turning into stressed assets / Non-performing Assets (NPAs). Some companies have also been taken up for initi....

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....d NCRPS, the disclosure shall be made promptly but not later than 24 hours from the occurrence of the default. This is in line with the existing disclosure requirements specified for listed debt instruments. Disclosures shall be made in the format(s) specified in Paras 3 (C1) and (C2) below. C. Disclosure formats: C1. The following details shall be disclosed by listed entities for each instance of default, as specified in Para 3 (B) above: a. For loans including revolving facilities like cash credit from banks / financial institutions: Sr. No Type of disclosure Details 1. Name of the Listed entity 2. Date of making the disclosure 3. Nature of obligation 4. Name of the Lender(s) 5. Date of default 6. Current default....