TMI BlogSecurities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2008 , namely:- 1. These regulations may be called the Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 ,- I. In regulation 2 , a. in sub-regulation (1), clause (h) shall be substituted with the following, namely, - (h) Private placement means an offer or invitation to subscribe or issue of securities to a select group of persons by a company (other than by way of public offer) through private placement offer-cum-application, which satisfies the conditions specified i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 18 , in sub-regulation (2), the words twenty one days shall be substituted the words fifteen days . VIII. In regulation 19 , in sub-regulation (1), the words and symbols sub-section 1 of section 75 of the Companies Act, 1956 (1 of 1956) shall be substituted with the words and symbols sub-section (1) and sub-section (2) of section 40 of the Companies Act, 2013 (18 of 2013). IX. In regulation 20 , in sub-regulation (1), in clause (a), the words and symbols Companies Act, 1956 shall be substituted with the words and symbols Companies Act, 2013. X. After regulation 21A and before regulation 22 , the following new regulation shall be inserted, namely,- Creation of Security 21B. The issuer shall give an under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue (including side letters, accelerated payment clause, etc.) c. the column titled Events of Default in the table, shall be substituted with the following, namely, - Event of Default (including manner of voting /conditions of joining Inter Creditor Agreement) d. the following shall be inserted as a new column after the new column titled Creation of Recovery Expense Fund , namely, - Conditions for breach of covenants (as specified in Debenture Trust Deed ) e. the column titled Security (where applicable) (Inclu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecurity is maintained, however, the recovery of 100% of the amount shall depend on the market scenario prevalent at the time of enforcement of the security. XIV. In Schedule II , para 4, the words and symbols Companies Act, 1956 shall be substituted with the words and symbols Companies Act, 2013. Sd/- AJAY TYAGI CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA Footnotes: 1. The Securities and Exchange Board of India (Issue And Listing Of Debt Securities) Regulations, 2008 , were published in the Gazette of India on 6th June, 2008 vide No. LADNRO/GN/2008/13/127878. 2. They were subsequently amended on: a) 12th October, 2012 by Securities and Exchange Board of India (Issue and Listing of Debt Securit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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