TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024
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....tible Securities) Regulations, 2021, namely: - 1. These regulations may be called the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2024. 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, after sub-regulation (6), the following shall be inserted, namely,- "(7) (a) The issuer shall fix a record date for the purposes of payment of interest, dividend and payment of redemption or repayment amount or for such other purposes as specified by the Board. (b) Such record dat....
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....ustee shall submit a due diligence certificate to the stock exchange: (a) in case of secured debt securities, in the format as specified in Part B of Schedule IV of these regulations; and (b) in case of unsecured debt securities, in the format as specified in Part B of Schedule IVA of these regulations. (3A) The stock exchange shall disclose the placement memorandum and the due diligence certificates provided by the debenture trustee on its website." IV. in Schedule I, clause 3.3.10, after sub-clause (a) and before sub-clause (b), the following shall be inserted, namely,- "Provided that, issuers whose non-convertible securities are listed as on the date of filing of the offer document or placemen....
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....r such relevant documents, reports and certifications. (2) On the basis of such examination and of the discussions with the issuer, its directors and other officers, other agencies and of independent verification of the various relevant documents, reports and certifications, WE CONFIRM that: (a) The issuer has made adequate provisions for and/or has taken steps to provide for adequate security for the debt securities to be issued. (b) The issuer has obtained the permissions / consents necessary for creating security on the said property (ies). (c) The issuer has made all the relevant disclosures about the security and also its continued obligations towards the holders of debt securities. (d) Issu....
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....relevant documents, reports and certifications, WE CONFIRM that: (a) The Issuer has created charge over its assets in favour of debenture trustee as per terms of offer document/ placement memorandum and debenture trustee agreement. (b) Issuer has executed the debenture trust deed as per the terms of offer document/ placement memorandum and debenture trustee agreement. (c) The Issuer has given an undertaking that charge shall be registered with Sub-registrar, Registrar of Companies, Central Registry of Securitization Asset Reconstruction and Security Interest (CERSAI), Depository etc., as applicable, within 30 days of creation of charge. The issuer has made all the relevant disclosures, which are true, fair and ade....
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....lause etc.), in the offer document. (c) Issuer has given an undertaking that the debenture trust deed shall be executed before the filing of listing application. PLACE: DATE: DEBENTURE TRUSTEE TO THE ISSUE WITH HIS RUBBER STAMP Part B [See Regulation 40(2)(b) and Regulation 44(3)(b)] FORMAT OF DUE DILIGENCE CERTIFICATE TO BE GIVEN BY THE DEBENTURE TRUSTEE AT THE TIME OF FILING OF LISTING APPLICATION BY ISSUER To, Stock Exchange Dear Sir / Madam, SUB.: ISSUE OF ____________________ BY _______________LTD. We, the Debenture Trustee (s) to the above mentioned forthcoming issue state as follows: (1) On the basis of examination of ....