Just a moment...

⚠✕
❮ Top
☎ Help
🚀 New: Section-Wise Filter ✕

1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available

2. New: “In Favour Of” filter added in Case Laws.

Try both these filters in Case Laws →

☰
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS
PrevPreviousNextNext

Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2022

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tions, 2021, namely: - 1. These regulations may be called the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, - I. In regulation 23, sub-regulation (5) shall be substituted with the following, namely, - "(5) The issuer shall ensure that the secured debt securities are secured by hundred percent security cover or higher security cover as per the terms of the offer document and/or Debenture Trust Deed, sufficient to discharge the principal amount and the interest....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....bered, the permissions or consent to create any further charge on the assets has been obtained from the existing creditors to whom the assets are charged, prior to creation of the charge." V. In regulation 44, sub-regulation 3 shall be substituted with the following, namely, - "(3) The debenture trustee shall submit a due diligence certificate to the stock exchange: (a) in case of secured debt securities, in the format as specified in Schedule IV of these regulations; and (b) in case of unsecured debt securities, in the format as specified in Schedule IVA of these regulations." VI. In regulation 48, sub-regulation (2) shall be substituted with the following, namely, - "(2) The charge created in respect of secured debt securities....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ening of the issue." IX. In Schedule IV, i. the words and symbols "Regulation 40" shall be replaced with the words and symbols "Regulation 40(a)"; ii. the words and symbols "Regulation 44(3)" shall be replaced with the words and symbols "Regulation 44(3)(a)"; iii. before the words "SECURITIES AND EXCHANGE BOARD OF INDIA", the words and symbols "STOCK EXCHANGE / " shall be inserted. X. After Schedule IV, the following new Schedule shall be inserted, namely- "SCHEDULE IVA FORMAT OF DUE DILIGENCE CERTIFICATE TO BE GIVEN BY THE DEBENTURE TRUSTEE [See Regulation 40(b) and Regulation 44(3)(b)] FORMAT OF DUE DILIGENCE CERTIFICATE TO BE GIVEN BY THE DEBENTURE TRUSTEE BEFORE OPENING OF THE ISSUE To STOCK EXCHANGE/ SECURITIES AND EXC....

PrevPreviousNextNext