Operational Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper
Summary
This part of the document serves as an Operational Circular consolidating listing obligations for Non-convertible Securities, Securitized Debt Instruments, and Commercial Paper. It establishes that this circular supersedes previous related circulars to provide a single reference point for issuers and stock exchanges. The text outlines the legal basis for the circular, its effective date, and introduces Chapter I regarding formats for filing financial information. This section mandates specific formats for the Statement of Assets and Liabilities and Cash Flows, requiring indirect method preparation for the latter. It outlines disclosure obligations for banking and insurance companies according to their respective regulators and prescribes newspaper publication formats for financial results. Additionally, it details procedures for disclosing reasons for delayed financial result submissions and provides illustrative formats for Limited Review Reports. This section provides illustrative formats for limited review reports specifically for Banks and NBFCs regarding their unaudited quarterly financial results. It includes a template for an independent auditor's report expressing an unmodi
Text
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 prescribes the continuous disclosure requirements for issuers of listed Non-convertible Securities, Securitized Debt Instruments and Commercial Paper.
The stipulations contained in these circulars have been detailed chapter-wise in this operational circular... Accordingly, the circulars listed at Annex - 1 stand superseded by this Operational Circular.
Recognized Stock Exchanges, Issuers and other stakeholders are directed to: comply with the conditions laid down in this circular; bring the provisions of this circular to the notice of listed entities/ issuers...
This Circular is issued in exercise of powers conferred under: Section 11(1) and 11A(2) of Securities and Exchange Board of India Act, 1992; Sections 9 and 21 of Securities Contracts (Regulation) Act, 1956...
This circular shall come into force with effect from August 1, 2022.
Financial results shall contain the items mentioned in the Statement of Profit and Loss... as prescribed in Schedule III of the Companies Act, 2013 and the extent and nature of security created and maintained in case of secured non-convertible debt securities...
The financial results shall be disclosed in the following format... Preceding 3 months ended* ... Corresponding 3 months ended previous year* ... Year to date figures for current period ended* ... Year to date for previous year ended*
Statement of Assets and Liabilities shall contain the items mentioned in the format for Balance sheet (excluding notes and detailed sub-classification), as prescribed in Schedule III of the Companies Act, 2013.
The statement of assets and liabilities shall be in the following format: Particulars As at (current half year end/ year end date)* Audited/ Unaudited** vs As at (previous year end date)* Audited/ Unaudited**.
The Statement of Cash Flows shall be prepared under the ‘indirect method’ as prescribed in Accounting Standard-3/ Indian Accounting Standard 7, mandated under section 133 of the Companies Act, 2013.
The Statement of Cash Flows shall be in the following format: Particulars As at (Current half year end/ year end date)* Audited/ Unaudited** vs As at (Corresponding half year end/ previous year end date)* Audited/ Unaudited**.
Banking Companies and Insurance Companies shall disclose financial information as per formats prescribed under the relevant Acts/ Regulations specified by their respective Regulators.
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Operational Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.