Regulation 59 - Structure of non convertible debt securities and non convertible redeemable preference shares. - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Structure of non convertible debt securities and non convertible redeemable preference shares. 59. (1) The listed entity shall not make material modification without prior approval of the stock exchange(s) where the non convertible debt securities or non-convertible redeemable preference shares, as applicable, are listed, to : (a) the structure of the 1 [ non-convertible debt securities ] in terms of coupon, 2 [ **** ] redemption, or otherwise. (b) the structure of the non-convertible redeemable preference shares in terms of dividend 3 [ **** ] , redemption, or otherwise. (2) The approval of the stock exchange referred to in sub-regulation (1) shall be made only after: (a) approval of the board of directors and the debenture trustee 4 [ **** ] and 5 [ (b) obtaining consent in writing of the holders of not less than three-fourths, by value of holders of that class of securities: Provided that the listed entity shall provide the facility of remote e-voting to facilitate such consent. ] ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as debenture 2. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as conversion, 3. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as, of non-convertible preference shares payable, conversion 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as in case of non-convertible debt securities 5. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as, (b) after complying with the provisions of Companies Act, 2013 including approval of the consent of requisite majority of holders of that class of securities.