Regulation 54 - Security Cover - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

5 [Security Cover ]. 54. 1 [ (1) In respect of its 6 [ secured ] listed non-convertible debt securities, the listed entity shall maintain hundred per cent. 7 [ security cover or higher security cover ] as per the terms of offer document/Information Memorandum and/or Debenture Trust Deed, sufficient to discharge the principal amount 8 [ and the interest thereon ] at all times for the non-convertible debt securities issued. ] (2) The listed entity shall disclose to the stock exchange in quarterly, half-yearly, year-to-date and annual financial statements, as applicable, the extent and nature of security created and maintained with respect to its secured listed non-convertible debt securities. 2 [ **** ] 4 [ (3) The listed entity shall disclose the 9 [ security cover ] available in case of non-convertible debt securities along with its financial results in the format as specified by the Board. ] ************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2020/33 dated 08-10-2020 before it was read as, (1) In respect of its listed non-convertible debt securities, the listed entity shall maintain hundred per cent. asset cover sufficient to discharge the principal amount at all times for the non-convertible debt securities issued. 2. Omitted vide Notification No. SEBI/LAD-NRO/GN/2020/33 dated 08-10-2020 before it was read as (3) The requirement specified in sub-regulation (1), shall not be applicable in case of unsecured debt securities issued by regulated financial sector entities eligible for meeting capital requirements as specified by respective regulators. 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 4. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/79 dated 11-04-2022 before it was read as, Asset Cover 6. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/79 dated 11-04-2022 7. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/79 dated 11-04-2022 before it was read as, asset cover or 3 [ higher ] asset cover 8. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/79 dated 11-04-2022 9. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/79 dated 11-04-2022 before it was read as, asset cover