New timelines set for issuers to share security, guarantor and asset reports with debenture trustees for continuous diligence

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Full Text of the Document

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....Regulator issues a circular prescribing timelines for issuers of listed or proposed-to-be-listed debt securities to submit information to debenture trustees to enable continuous due diligence. Issuers must provide quarterly security cover certificates, statements of pledged securities, and Debt Service Reserve Account or other security values within 60 days of each quarter end (75 days for the last quarter). Net worth certificates of personal guarantors are required half-yearly within 60 days, and corporate guarantor financials annually within 60 days of year-end. Valuation and title search reports for immovable or movable assets must be submitted once every three years within 60 days of financial year end. Provisions apply from the quarter ending December 31, 2025.....