Now issuers of municipal debt securities may also issue green debt securities: SEBI
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- Last Updated on 26 November, 2022
Circular No. SEBI/HO/DDHS/DDHS_Div1/P/CIR/2022/158, Dated 24.11.2022
SEBI has clarified that issuers of municipal debt securities can issue green bonds in compliance with the guidelines for issuance and listing non-convertible debentures. SEBI (Issue and Listing of Municipal Debt Securities) or ILMDS rules provide the framework for the issuance and listing of municipal debt securities. The move is to protect the interest of investors in securities and promote the development of, and regulate the securities market.
Accordingly, SEBI now clarified that issuer under the ILMDS Regulations may issue a green debt security if it falls within the definition of “green debt security”, as per Regulation 2(1)(q) of the NCS Regulations. This circular shall come into force with immediate effect.
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied