The Securities and Exchange Board of India (SEBI) on July 10, 2024, notified the Securities and Exchange Board of India (Issue and Listing of Nonconvertible Securities) (Amendment) Regulations, 2024 further to amend the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The following has been stated: -
•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 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.”
•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 the 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 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.”
The detailed notification is given in the document below.
[Notification No. SEBI/LAD-NRO/GN/2024/190]
