Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Home Circulars 2020 SEBI SEBI - 2020 This
← Previous Next →
  • Login

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser



 

Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) - SEBI - SEBI/HO/DDHS/CIR/P/2020/199

Extract

..... governed by Reserve Bank of India (RBI) guidelines and issued under the issuance and listing framework given under Chapter VI of the SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 (“NCRPS Regulations”). 2. These instruments have certain unique features which, inter-alia, grant the issuer (i.e. banks, in consultation with RBI) a discretion in terms of writing down the principal / interest, to skip interest payments, to make an early recall etc. without commensurate right for investors to legal recourse, even if such actions of the issuer might result in potential loss to investors. 3. Given the nature and contingency impact of these AT 1 instruments and the fact that full import of the .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) - SEBI

X X   X X   Extracts   X X   X X

..... PS Regulations, shall comply with the following: i. Disclosures as specified in Annex I. ii. Provisions of circulars as specified in Annex II. iii. Specific disclosures about: a) Details of all the conditions upon which the call option will be exercised by them for AT1 instruments, in the Information /Private Placement Memorandum. b) Risk factors, to include all the inherent features of these AT1 instruments highlighted at para 2 above. c) Point of Non Viability (PONV) clause: The absolute right, given to the RBI, to direct a bank to write down the entire value of its outstanding AT1 instruments/bonds, if it thinks the bank has passed the Point of Non Viability (PONV), or requires a public sector capital infusion to remain a going concern. .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) - SEBI

X X   X X   Extracts   X X   X X

..... re the details submitted under this clause with all ‘Qualified Institutional Buyers’ (QIBs) within 180 days from the end of the financial year and other existing AT 1 instrument holders within 2 working days of their specific request. 5 Gross debt-equity ratio of the company, before and after the issuance of the AT1 instrument. 6 The names of the debenture trustee(s) with a statement to the effect that debenture trustee(s) has given its consent to the Issuer for its appointment and in all the subsequent periodical communications sent to the holders of AT1 instruments. 7 If the security is backed by a guarantee or letter of comfort or any other document / letter with similar intent, a copy of the same. In case such document does .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) - SEBI

X X   X X   Extracts   X X   X X

..... ion for debt securities issued under the SEBI ILDS Regulations, CIR/IMD/DF-1/122/2016 5 June 30, 2017 Specifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008. CIR/IMD/DF-1/ 67/2017 6 March 28, 2018 Clarifications with respect to circular on “Specifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008” CIR/DDHS/P/59/2018 7 January 05, 2018 Electronic book mechanism for issuance of securities on private placement basis SEBI/HO/DDHS/CIR/P/2018/05 8 August 16, 2018 Electronic book mechanism fo .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) - SEBI

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||