Regulation 62C - Applicability - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

1 [Applicability. 62C. (1) The provisions of this chapter shall apply to a listed entity which only has non-convertible debt securities listed, with an outstanding value of Rupees One Thousand Crore and above and does not have any listed specified securities. Explanation (1) : The high value debt listed entities shall be determined on basis of value of principal outstanding of listed debt securities as on March 31, 2025, irrespective of the date of notification of this amendment. Explanation (2): The entities falling in sub-regulation (1) of the regulation 62C shall be referred to a high value debt listed entity (HVDLE) for the purpose of this chapter: Provided that in case the value of the outstanding listed non-convertible debt securities becomes equal to or greater than the specified threshold of Rupees One Thousand Crore during the financial year, it shall ensure compliance with these provisions within six months from the date of such trigger and the disclosures of such compliance may be made in corporate governance compliance report on and from third quarter, following the date of the trigger. (2) Notwithstanding anything contained in sub-regulation (3) of regulation 3, once the provisions of this Chapter become applicable to a high value debt listed entity , the said regulations shall continue apply till the value of the outstanding listed debt securities as on March 31 in a year, reduces and remains below the specified threshold for a period of three consecutive financial years. Explanation : The provisions of this sub-regulation shall become applicable with effect from April 01, 2025. (3) Notwithstanding anything contained in this regulation, in case of an Infrastructure Investment Trust registered under the provisions of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, the governance norms specified under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 shall be applicable. (4) Notwithstanding anything contained in this regulation, in case of a Real Estate Investment Trust registered under the provisions of Securities and Exchange Board of India (Real Estate Investment Trust) Regulations, 2014, the governance norms specified under the Securities and Exchange Board of India (Real Estate Investment Trust) Regulations, 2014 shall be applicable. (5) The provisions as specified in regulation 62D shall not be applicable during the period in which a HVDLE is undergoing corporate insolvency resolution process under the Insolvency Code: Provided that the roles and responsibilities of the board of directors as specified under regulation 62D shall be fulfilled by the interim resolution professional or resolution professional in accordance with sections 17 or 23 of the Insolvency Code, as the case may be. (6) The provisions as specified in regulations 62F, 62G, 62H and 62I shall not be applicable during the period in which a HVDLE is undergoing corporate insolvency resolution process under the Insolvency Code: Provided that the roles and responsibilities of the committees specified in the respective regulations shall be fulfilled by the interim resolution professional or resolution professional in accordance with section 17 or section 23 of the Insolvency Code, as the case may be. (7) Notwithstanding the provisions of this chapter, the provisions of Companies Act, 2013 shall continue to apply, wherever applicable. ] **************** NOTES:- 1 . Inserted vide F. No. SEBI/LAD-NRO/GN/2025/239 dated 27-03-2025