Regulation 49 - Applicability - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

CHAPTER V OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS NON-CONVERTIBLE DEBT SECURITIES OR NON-CONVERTIBLE REDEEMABLE PREFERENCE SHARES OR BOTH Applicability. 49. 1 [ (1) The provisions of this chapter shall apply only to a listed entity which has listed its non-convertible securities on a recognised stock exchange in accordance with Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021. ] 2 [ **** ] 3 [ Explanation (1) - For the purpose of this chapter, if the listed entity has listed its non-convertible redeemable preference shares, perpetual non-cumulative preference shares or instruments of nature similar to perpetual non-cumulative preference shares, the reference to interest in this chapter shall be read as dividend . ] 4 [ Explanation (2) For the purpose of this chapter, default shall mean non-payment of interest/dividend or principal amount in full on the pre-agreed date and shall be recognized at the first instance of delay in servicing of any interest/dividend or principal amount. ] ************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as, (1) The provisions of this chapter shall apply only to a listed entity which has listed its Non-convertible Debt Securities and/or Non-Convertible Redeemable Preference Shares on a recognised stock exchange in accordance with Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 or Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 respectively. 2. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as, (2) The provisions of this chapter shall also be applicable to perpetual debt instrument and perpetual non-cumulative preference share listed by banks. 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as Explanation (1).- For the purpose of this chapter, Bank means any bank included in the Second Schedule to the Reserve Bank of India Act, 1934. 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as Explanation (2).- For the purpose of this chapter, if the listed entity has listed its non-convertible redeemable preference shares: (i) The reference to interest may also read as dividend; (ii) The provisions concerning debenture trustees and security creation (or asset cover or charge on assets) shall not be applicable for non-convertible redeemable preference shares