TMI BlogApplicabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... which has listed its non-convertible debt securities and has an outstanding value of listed non-convertible debt securities of Rupees Five Hundred Crore and above: Provided that in case an entity that has listed its non-convertible debt securities triggers the specified threshold of Rupees Five Hundred Crore during the course of the year, it shall ensure compliance with these provisions within six months from the date of such trigger: Provided further that these provisions shall be applicable to a high value debt listed entity on a comply or explain basis until 19 [ March 31, 2024 ] and on a mandatory basis thereafter. Explanation (1)- The entities referred in the first proviso to sub-regulation (1A) of regulation 15 are ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Investment Trust) Regulations, 2014, the governance norms specified under the Securities and Exchange Board of India (Real Estate Investment Trust) Regulations, 2014 shall be applicable. ] (2) The compliance with the corporate governance provisions as specified in regulations 17, 1 [17A,] 18, 19, 20, 21,22, 23, 24, 2 [24A,] 25, 26, 27 and clauses (b) to (i) 7 [ and (t) ] of sub-regulation (2) of regulation 46 and para C , D and E of Schedule V shall not apply, in respect of - (a) 8 [ a ] listed entity having paid up equity share capital not exceeding rupees ten crore and net worth not exceeding rupees twenty five crore, as on the last day of the previous financial year: 9 [ Provided that where the provisions of regul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lvency Code: Provided that the roles and responsibilities of the committees specified in the respective regulations shall be fulfilled by the interim resolution professional or resolution professional.] 5 (3) Notwithstanding sub-regulation (2) above, the provisions of Companies Act, 2013 shall continue to apply, wherever applicable. ********** 1 Inserted by the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, w.e.f. 1.4.2019. 2 Inserted ibid. 3 Inserted by the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018, w.e.f. 1.4.2019. 4 Inserted ibid. 5 Inserted by SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it does not violate their respective statutes and guidelines or directives issued by the relevant authorities. 13. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 14. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 15. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 16. Omitted vide Notification No. SEBI/LAD-NRO/GN/2023/117 dated 17-01-2023 w.e.f. 01-04-2023 before it was read as, Explanation (4) (a) In case of a high value debt listed entity that is a Real Estate Investment Trust (REIT), the Board of the Manager of the Real Estate Investment Trust (REIT), shall comply with regulation 15 to regulation 27 of these regulations related to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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