Share:   Share on facebook   Share on twitter   Share on linkedin

        Home        
 
Blank

Home Circulars 2022 SEBI SEBI - 2022 This

  • Login

Latest - TMI e-Newsletter

Forget password       New User/ Regiser



 

Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence - SEBI - SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/106

Extract

..... egulations, 1993, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and erstwhile SEBI (Issue and Listing of Debt Securities) Regulations, 2008 [Replaced by the SEBI (Issue and Listing of Non-convertible securities) Regulations, 2021], pursuant to which a circular [Circular no. SEBI/HO/MIRSD/CRADT/CIR/P/2020/218 dated November 03, 2020] on the creation of security and due diligence by DTs was issued. 2. Since the issue of the circular, SEBI has received feedback from market participants on the aspects of due diligence and security creation. On the basis of such feedback, it has been decided that certain aspects of the said circular be tweaked. Accordingly, the present circular laying down revised requirements relating .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence - SEBI

X X   X X   Extracts   X X   X X

..... ity, creation of security/ additional security in the manner as prescribed in para 4 to para 7 of SEBI Circular dated November 03, 2020. Pursuant to the initial due diligence carried out as per para 4-7 of SEBI Circular dated November 03, 2020, the DT shall issue a no-objection certificate (NOC) to issuer company for going ahead with proposed change in the structure/ creation of security. 4.3. Thereafter, the issuer company shall create the proposed security and the charge in favour of DT and the same shall be registered with the sub-registrar, Registrar of Companies, CERSAI, Depository etc., as applicable, within 30 days of creation of such charge. In case the charge is not registered anywhere or is not independently verifiable, then the s .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence - SEBI

X X   X X   Extracts   X X   X X

..... Depositories and Participants) Regulations, 2018, Depository bye laws and other applicable regulations and circulars. 6. Encumbrance for the above shall mean the following: 6.1. Pledge, hypothecation, lien, negative lien, non-disposal undertaking or non-disposal agreement; 6.2. Any restriction on the free and marketable title to securities, by whatever name called, whether executed directly or indirectly 6.3. Any covenant, transaction, condition or arrangement in the nature of encumbrance, by whatever name called, whether executed directly or indirectly. C. Due Diligence Certificate in case of Shelf Prospectus/ Memorandum: 7. In case security details have not been finalized at the time of the filing of a draft shelf prospectus/ placement me .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence - SEBI

X X   X X   Extracts   X X   X X

..... have no pecuniary relationship with the issuer company 3 years prior to the issue. E. Compliance with SEBI Circulars on ‘Security & Covenant Monitoring System’ 9. In order to ensure efficient recording of details regarding creation of security and monitoring of covenants via the system hosted by Depositories using the Distributed Ledger Technology (DLT), various stakeholders, viz. Issuers, Depositories, DTs and CRAs shall ensure that they are in compliance of SEBI circulars SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2021/618 dated August 13, 2021 and SEBI/ HO/ MIRSD/ CRADT/ CIR/ P/ 2022/ 38 dated March 29, 2022 and various circulars issued in respect of the DLT system issued by SEBI from time to time. 10. This circular is issued in exe .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence - SEBI

X X   X X   Extracts   X X   X X