SEBI directs depositories to periodically report the compliance with Security & Covenant Monitoring system
- Blog|News|Company Law|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 7 January, 2023
Latest from Taxmann
Circular no: SEBI/HO/DDHS/RACPOD1/CIR/P/2023/0002, Dated 05.01.2023
Earlier, the SEBI had specified the manner of recording of charges by Issuers and manner of monitoring and other responsibilities of stakeholders for ‘Security & Covenant Monitoring using Distributed Ledger Technology (DLT). Also, the Operating Guidelines of the said system using DLT, including roles and responsibilities of the various stakeholders involved, were specified.
Now SEBI has directed the depositories to periodically monitor the compliance with Security & Covenant Monitoring System. Further, any instances of non-compliance shall also be informed to the SEBI on a quarterly basis within 1 month from the end of quarter, in the format specified in the circular. These provisions shall come in force from April 01, 2023.
Click Here To Read The Full Circular
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.
CA | CS | CMA
