Schedule - V - Periodic Disclosures to be made by Issuers - Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015

1 [ SCHEDULE V [ See sub-regulation (1) of regulation 23 ] Periodic Disclosures to be made by Issuers i. Material adverse changes affecting ability to service bonds. ii. Proposal for pre-payment, valuation of bond in case of sale/purchase before maturity, etc. iii. Important ratios like debt equity ratio, debt service coverage ratio, interest service coverage ratio, etc. iv. Half yearly return on servicing of bonds, credit enhancement facilities and investors grievances and redressal. ] ************ NOTES:- 1. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/40 dated 27-09-2019 before it was read as, SCHEDULE V [See Regulation 23 (1)] Periodic Disclosures to be made by Issuers: 1. The issuer shall file its Annual Audited financial results, forthwith, with the stock exchange and debenture trustee, wherever applicable. 2. Further, following periodic disclosures shall be made by the Issuer on half yearly basis to the stock exchange and debenture trustee, wherever applicable.: i. Utilization of funds for the projects Half yearly certification of Chartered Accountant on Utilizations of the issue proceeds for execution of the projects stated in the offer document. ii. A report containing status of implementation of project(s), which is being financed alongwith reasons for delay, if any. iii. Project development - Details with respect to the development of the Project along with certifications from the Project Engineer should be furnished to the bond trustee, Rating Agencies and stock exchanges on Half Yearly Basis and should be publicly disseminated. iv. Material adverse changes affecting ability to service bonds. v. Proposal for pre-payment, valuation of bond in case of sale/purchase before maturity etc. vi. Important ratios like Debt Equity Ratio, Debt Service Coverage Ratio, Interest Service Coverage Ratio etc. vii. Half Yearly return on servicing of bonds, maintenance of Asset Cover, Credit enhancement facilities and Investors Grievances Redressal viii. A CA/Bank certificate for timely servicing of bonds.