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TMI BlogEligible issuersX X X X Extracts X X X X X X X X Extracts X X X X ..... bt securities is eligible to raise funds under its constitution document; (b) the accounts of issuer shall be prepared in accordance with any of the following: i. National Municipal Accounts Manual or; ii. Municipal Accounts Manual as adopted by the respective State Governments; or iii. Accounting standards, applicable to issuers, as prescribed under the Companies Act or; iv. Accounting standards/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set up for the purpose of raising funds for an person for performing one or more functions entrusted under Article 243W of the Constitution of India, the requirements at clauses (b) and (c) above shall be complied by the person being financed; ] ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD/NRO/GN/2016-17/032 dated 15-02-2017 before it was read as, (c) municipality shall not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EBI/LAD-NRO/GN/2019/40 dated 27-09-2019 before it was read as, Eligible municipalities. 4. No issuer shall be eligible to issue debt securities to public under these regulations, unless the following criteria are complied with: (a) municipality, whether proposing to issue debt securities itself or through corporate municipal entity, should be eligible to raise funds under its constitution; (b) acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ys: Provided that where the issuer is a corporate municipal entity, the requirements at clauses (b) and (d) shall be complied by the municipality which is being financed; ] (e) no order or direction of restraint, prohibition or debarment by Board against the corporate municipal entity or its directors is in force; (f) the corporate municipal entity, its promoter, group company or director(s), shou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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