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Monitoring and Disclosures by Debenture Trustee(s) - SEBI - SEBI/ HO/ MIRSD/ CRADT/ CIR/ P/ 2020/230

Extract

..... compliance with covenants or terms of the issue of listed debt securities including for ‘security created’. A. Monitoring of ‘security created’ / ‘assets on which charge is created’ 2. SEBI Circular No. SEBI/ HO/ MIRSD/ CRADT/ CIR/ P/ 2020/218 dated November 03, 2020, has prescribed the manner in which debenture trustees shall carry out due diligence for creation of security at the time of issuance of debt securities and as required under Regulation 15(1)(s) & 15(1)(t) of DT Regulations, debenture trustee(s) shall carry out due diligence on continuous basis. Debenture trustee shall carry out periodical monitoring in following manner: 2.1. Debenture trustee shall incorporate the terms and conditions of .....

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Monitoring and Disclosures by Debenture Trustee(s) - SEBI

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..... e of breach of covenants or terms of the issue by listed entity, the debenture trustee shall take steps as outlined in para 6.1 and 6.3 of SEBI Circular SEBI/HO/MIRSD/CRADT/CIR/P/2020/203 dated October 13, 2020 and thereafter take necessary action as decided in the meeting of holders of debt securities in this regard. C. Disclosure on website by debenture trustee 4. The debenture trustee(s) shall make the following disclosures on their websites as specified below: Disclosures Periodicity Format Revision in Credit ratings Continuous basis within T+1 day from receipt of information Table 1 of Annexure B Status of payment of interest/ principal by the listed entity Table 2 of Annexure B Monitoring of Asset cover certificate and Quarterly compl .....

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Monitoring and Disclosures by Debenture Trustee(s) - SEBI

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..... ) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 2A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, Regulation 31(1) of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, Regulation 101(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 29 of the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market. 7. Applicability: The provisions of this circular shal .....

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Monitoring and Disclosures by Debenture Trustee(s) - SEBI

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