Relaxation from compliance with certain provisions of the SEBI Issue and Listing of Debt Securities Regulations, 2008 and SEBI Non Convertible.pdf
Summary
This circular extends the relaxation from compliance with certain SEBI regulations regarding the disclosure of financial results for issuers listing debt securities due to the COVID-19 pandemic. The extension applies specifically to Non-Convertible Debentures, Non-Convertible Redeemable Preference Shares, and Commercial Papers, granting a 91-day relaxation period. The modified timelines allow for issuance on or before June 30, 2020, based on financials as of September 30, 2019.
Text
it has been decided to extend the relaxation provided in the circular for issuers who intend/propose to list their Non-Convertible Debentures (NCDs) /Non-Convertible Redeemable Preference Share (NCRPS) /Commercial Papers (CPs) for disclosure of financial results for another one month.
In order to enable listed issuers who intend/propose to list their NCD/NCRPS/CPs, it has been decided to grant the following relaxations in timelines: Cut-off date for issuance of NCDs/NCRPS/CPs As on September 30, 2019 Date for issuance On or before March 31, 2020 Extended date for issuance On or before June 30, 2020 Period of relaxation 91 days
This circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all listed entities and also disseminate on their websites.
The circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 31 and 32 of the SEBI (ILDS) Regulations, 2008, Regulations 26 and 27 of SEBI (NCRPS) Regulations, 2013, the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
Source: SecMarx — Relaxation from compliance with certain provisions of the SEBI Issue and Listing of Debt Securities Regulations, 2008 and SEBI Non Convertible.pdf. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.