SEBI grants further relaxations to listed companies who have listed / proposed to list NCDs / NCRPS / CPs / MDS on account of COVID-19 pandemic

SEBI grants further relaxations to listed companies who have listed / proposed to list NCDs / NCRPS / CPs / MDS on account of COVID-19 pandemic

March 25, 2020 Compliance Blog 0

n addition to the relaxations already notified under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’), the Securities and Exchange Board of India (‘SEBI’), in a circular dated 23.03.2020, has issued further relaxations in compliance requirements for listed entities which have listed their Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS), Municipal Debt Securities (MDS) and Commercial Papers (CPs) or which propose to list the same.

  1. Extension of timeline for issuance and filings for issuers who have listed /propose to list their Non-Convertible Debentures (NCDs) / Non-Convertible Redeemable Preference Shares (NCRPS)/ Commercial Paper(s)

To enable issuers who intend/propose to list their NCD/NCRPS/CPs, the following relaxations in timelines have been granted.

 

Particulars Available Audited financials Date for issuance Extended date for issuance Period of relaxation
Cutoff date for issuance of NCDs/NCRPS/C Ps As on September 30, 2019 On or before March 31, 2020 On or before May 31, 2020 60 Days
  1. Extension of timeline for filings under SEBI (LODR) Regulation 201512032020

 

  1. Extension of timeline for filings prescribed for Issuers of Municipal Debt Securities

 

Source: Securities and Exchange Board of India

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