SEBI extends the timeline for entering details of outstanding non-convertible securities
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- By Chetan Kulasri
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- Last Updated on 7 January, 2023
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Circular no. SEBI/HO/DDHS/RACPOD1/CIR/P/2023/003, Dated 05.01.2023
Earlier, SEBI received representations from debenture trustees (DTs) that cited technical difficulties in entering details in the ‘Security and Covenant Monitoring’ system hosted by the depositories. Now, the SEBI has extended the timeline for entering the details of the same by January 31, 2023. Further, Debenture Trustees (DTs) shall verify the same by February 28, 2023. Earlier, the same was to be complied with by October 31, 2022.
DTs shall submit a fortnightly progress report of status of compliance regarding the details pertaining to existing outstanding non-convertible securities being entered in the system by the issuers and verification of the same by DT, till the extension of the timeline for compliance is in place. The progress report shall be submitted within five days of the end of the fortnight.
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