Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories
Summary
This circular extends the deadlines for issuers and Debenture Trustees to enter and verify details of existing non-convertible securities in the DLT-based monitoring system. Issuers are now required to complete data entry by January 31, 2023, while Debenture Trustees must verify these entries by February 28, 2023. Additionally, Debenture Trustees are mandated to submit fortnightly progress reports on compliance status until the extended timeline expires.
Text
for existing outstanding non-convertible securities, issuers shall ensure that they enter the details into the system on or before January 31, 2023
DTs shall verify the same by February 28, 2023
DTs shall submit a fortnightly progress report of status of compliance regarding the details pertaining to existing outstanding non-convertible securities being entered in the system by the issuers and verification of the same by DT, till the extension of the timeline for compliance is in place. The progress report shall be submitted within five days of the end of the fortnight.
Source: SecMarx — Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.