Mandatory admission of debt instruments on both the Depositories
Summary
The circular reiterates the mandatory requirement for issuer companies to admit their debt instruments on both depositories as per a 2002 directive. It notes that many issuers have failed to comply with this admission requirement despite previous instructions. Stock exchanges and depositories are advised to inform issuer companies to ensure compliance with the existing mandate.
Text
Please refer to SEBI circular No. D&CC/FITTC/CIR-13/2002 dated November 1, 2002 requiring , inter alia, that the issuer companies mandatorily admit their debt instruments on both the depositories.
It is observed that many issuers debt instruments have still not admitted their debt securities on both the depositories, as required in terms of the aforesaid circular.
The stock exchanges and the depositories are advised to inform the issuer companies to comply with the circular.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Mandatory admission of debt instruments on both the Depositories. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.