Home Acts & Rules SEBI Regulation Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Chapters List Chapter V OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS NON-CONVERTIBLE SECURITIES This
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Regulation 61 - Terms of non convertible debt securities and non convertible redeemable preference shares. - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015Extract Terms of non convertible debt securities and non convertible redeemable preference shares 61. (1) The listed entity shall ensure timely payment of interest or dividend of 1 [ non-convertible debt securities and/or ] non-convertible redeemable preference shares or redemption payment: Provided that the listed entity shall not declare or distribute any dividend wherein it has defaulted in payment of interest on debt securities or redemption thereof or in creation of security as per the terms of the issue of debt securities: 2 [****] 3 [ **** ] (3) Unless the terms of issue provide otherwise, the listed entity shall not select any of its listed securities for redemption otherwise than pro rata basis or by lot. (4) The listed entity shall comply with requirements as specified in regulation 40 for transfer 4 [ and transmission ] of securities including procedural requirements specified in Schedule VII. ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/42. Dated 13-08-2021 2. Omitted Vide Notification No. SEBI/LAD-NRO/GN/2021/42. Dated 13-08-2021 before it was read as: , Provided further that this requirement 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. Omitted vide Notification No. SEBI/LAD-NRO/GN/2021/47 dated 07-09-2021 before it was read as, (2) The listed entity shall not forfeit unclaimed interest/dividend and such unclaimed interest/dividend shall be transferred to the Investor Education and Protection Fund set up as per Section 125 of the Companies Act, 2013. 4. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/80 dated 25-04-2022
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