Regulation 40 - Due Diligence by Debenture trustee - Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021

2 [Due Diligence by Debenture trustee 40. (1) The debenture trustee shall, at the time of filing the draft offer document with the stock exchange(s) and prior to the opening of the public issue of debt securities, furnish to the Board and to the stock exchange(s), a due diligence certificate: (a) in case of secured debt securities, in the format as specified in Part A of Schedule IV of these regulations; and (b) in case of unsecured debt securities, in the format as specified in Part A of Schedule IVA of these regulations. (2) The debenture trustee shall at the time of filing of the listing application by the issuer, furnish to the Board and to the stock exchange(s), a due diligence certificate: (a) in case of secured debt securities, in the format as specified in Part B of Schedule IV of these regulations; and (b) in case of unsecured debt securities, in the format as specified in Part B of Schedule IVA of these regulations. (3) The stock exchange shall disclose the offer document and due diligence certificates provided by the debenture trustee on its website. ] ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/77 dated 11-04-2022 before it was read as, Due Diligence by Debenture trustee 40. The debenture trustee shall, at the time of filing the draft offer document with the stock exchange(s) and prior to opening of the public issue of debt securities, furnish to the Board and stock exchange(s), a due diligence certificate in the format as specified in Schedule IV of these regulations. 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/190 dated 08-07-2024 before it was read as, 1 [Due Diligence by Debenture trustee 40. The debenture trustee shall, at the time of filing the draft offer document with the stock exchange(s) and prior to opening of the public issue of debt securities, furnish to the Board and stock exchange(s), a due diligence certificate: (a) in case of secured debt securities, in the format as specified in Schedule IV of these regulations; and (b) in case of unsecured debt securities, in the format as specified in Schedule IVA of these regulations. ]