Creation of Security in issuance of listed debt securities and ‘due diligence’ by debenture trustee(s) - Extension of timeline for implementation
Summary
SEBI extends the implementation date for security creation and due diligence requirements in listed debt securities from January 1, 2021, to April 1, 2021. This decision follows representations from debenture trustees citing challenges arising from the COVID-19 pandemic. The extension is issued under powers conferred by Section 11(1) of the SEBI Act, 1993, and relevant Debenture Trustees and Debt Securities Regulations.
Text
it has been decided to extend the implementation date of the provisions of the aforesaid circular to April 01, 2021.
This circular is issued in exercise of the powers conferred upon SEBI under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 2A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 and Regulation 31(1) of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
Source: SecMarx — Creation of Security in issuance of listed debt securities and ‘due diligence’ by debenture trustee(s) - Extension of timeline for implementation. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.