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TMI BlogContinuous disclosures and compliances by issuers under SEBI (Issue and Listing of Debt Securities by Municipalities) Regulations, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... curities under SEBI ILDM Regulations shall comply with the following: 2.1.1. Frequency and time period for disclosures: (a) The issuer shall prepare and submit un-audited financial results on a half yearly basis to the stock exchange and debenture trustee, wherever applicable, as soon as the same is available but not later than three months from the end of the half year. (b) The issuer shall prepare and submit the annual audited financial results with the stock exchange and debenture trustee, wherever applicable, as soon as the same is available but not later than six months from the end of the financial year. The audited financial results shall be accompanied by the annual report of the issuer. 2.1.2. Comparative information: (a) The annual financial information shall contain comparative information for the immediately preceding financial year. (b) The comparative information would consist of corresponding amounts (comparative figures) for all the items shown in the key financial statements (as specified in Paragraph 2.1.3 below), including notes. 2.1.3. Key Financial statements: The key financial statements shall include the following: (a) Balance Sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation: The issuer shall first disclose to stock exchange(s) of all events or information having bearing on the performance/operation of the listed entity, material or price sensitive information or any action that shall affect payment of interest or redemption of debt securities issued under SEBI ILDM Regulations as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information. The disclosures shall be made as per the format specified in Annexure I. (c) Timely payment of interests or principal obligations or both: The issuer shall submit a certificate to the stock exchange within five working days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the debt securities issued under SEBI ILDM Regulations. ( d) Approval from the stock exchange(s) for any material modification: The issuer shall not make material modification such as the structure of the debt security in terms of coupon, redemption, or otherwise, without prior approval of the stock exchange(s) where the debt securities issued under SEBI ILDM Regulations are listed, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... complaints received during the half year Number of investor complaints disposed of during the half year Number of investor complaints pending at the end of the half year (d) The standing Committee or General Body or Board of Directors or Board of Trustee, as applicable shall review the aforementioned statement, before submission of the same to the Stock Exchange(s), and shall ensure that all investor complaints are redressed by the issuer in timely manner. (e) Periodic disclosures to be made on half yearly basis in terms of para 2 of Schedule V of SEBI ILDM Regulations shall be submitted within 30 working days from the end of the half year. 2.4. Appointment of compliance officer: An issuer shall appoint a compliance officer who shall be responsible for: i. ensuring conformity with the regulatory provisions applicable to the issuer in letter and spirit. ii. co-ordination with and reporting to the Board, recognized stock exchange(s) and depositories with respect to compliance with rules, regulations and other directives of these authorities in manner as specified from time to time. iii. ensuring that the correct procedures have been followed that would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) any action that shall affect adversely payment of interest on debt securities issued under SEBI ILDM Regulations including default by issuer to pay interest or redemption amount and failure to create a charge on the assets; (5) any change in the form or nature of any of its debt securities issued under SEBI ILDM Regulations that are listed on the stock exchange(s) or in the rights or privileges of the holders thereof and make an application for listing of the securities as changed, if the stock exchange(s) so require; (6) any changes in the general character or nature of business / activities, disruption of operation due to natural calamity, and commencement of commercial production / commercial operations; (7) any events such as strikes and lock outs which have a bearing on the interest payment/ dividend payment / principal repayment capacity; (8) details of any letter or comments made by debenture trustees, wherever applicable regarding payment/non-payment of interest on due dates, payment/non-payment of principal on the due dates or any other matter concerning the security, listed entity and /or the assets along with its comments thereon, if any; (9) delay/ defa ..... 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