Additional requirements for issue of convertible debt instruments

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..... gulations, an issuer making a public issue or rights issue of convertible debt instruments shall comply with the following conditions: (a) it has obtained credit rating from one or more credit rating agencies; (b) it has appointed one or more debenture trustees in accordance with the provisions of section 117B of the Companies Act, 1956 and Securities and Exchange Board of India (Debenture T .....

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..... trustee before the opening of the issue; (iv) the security/asset cover shall be arrived at after reduction of the liabilities having a first/prior charge, in case the convertible debt instruments are secured by a second or subsequent charge. (2) The issuer shall redeem the convertible debt instruments in terms of the offer document. - - statute, statutory provisions legislation, law, ena .....

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