Securities and Exchange Board of India (Issue and Listing of Debt Securities by Municipalities) (Amendment) Regulations, 2017

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..... ND LISTING OF DEBT SECURITIES BY MUNICIPALITIES) (AMENDMENT) REGULATIONS, 2017 No. SEBI/LAD-NRO/GN/2016-17/032.─ In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) , the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Issue a .....

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..... ovided that a corporate municipal entity shall not have negative net worth in any of immediately preceding three financial years. (II) In regulation 4, for clause (d) , the following shall be substituted, namely- (d) municipality shall not have defaulted in repayment of debt securities or loans obtained from banks or financial institutions, during the last three hundred and sixty five day .....

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