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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

SEBI introduces Legal Identifier System for issuers with listed NCDs, Securitised Debt, Security Receipts

03-May-2023 | SEBI/HO/DDHS/DDHS_Div1/P/CIR/2023/64

SEBI has introduced Legal Entity Identifier (LEI) system for issuers that have listed or planning to list nonconvertible securities, securitized debt instruments and security receipts. Presently, the Reserve Bank of India (RBI) mandates non-individual borrowers having aggregate exposure of above Rs 25 crore to obtain the LEI code. Therefore, Issuers having outstanding listed non-convertible securities as, on August 31, 2023, will have to obtain and report the LEI code in the centralized database of corporate bonds by September 1, 2023. Similarly, issuers having outstanding listed securitized debt instruments and security receipts as on August 31, 2023 will have to obtain and report the LEI code to the depositories by September 1. Further, issuers proposing to list non-convertible securities and securitized debt instruments as well as security receipts on or after September 1 will have to report their LEI code to the centralized database of corporate bonds and depositories respectively at the time of allotment of the ISIN.

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