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

Securities and Exchange Board of India (Issue and Listing of Non- Convertible Securities) (Amendment) Regulations, 2024

08-Jul-2024 | No. SEBI/LAD-NRO/GN/2024/190

SEBI has issued Securities and Exchange Board of India (Issue and Listing of Non- Convertible Securities) (Amendment) Regulations, 2024.

By virtue of the circular, following amendments has taken place:

1. Regulation 23 (7) is inserted- (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 date shall be fixed at fifteen days prior to the due date of payment interest or dividend, repayment of principal or any other corporate actions.

2. Regulation 44 (3) is substituted with the following :- 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 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.

Refer the attachment for more information.

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