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TMI BlogAmendments to the Listing Agreement for DebenturesX X X X Extracts X X X X X X X X Extracts X X X X ..... nalize the provisions of continuous disclosures made by issuers who have listed their debt securities and not their equity shares; and to introduce submission of unaudited financial results with a limited review. It has been decided to modify clauses 3.3 and 2.14 (1) of the extant Model Listing Agreement for debentures as follows: i. Clause 3.3 applicable for debentures issued on private placement basis shall be amended to provide for submission of unaudited half-yearly results subject to a limited review (instead of half-yearly audited results). The results shall be submitted to the exchange within one month from the end of the half-year and a copy of the limited review report shall be submitted within two months from the end of the hal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l results, based on quarterly/ half-yearly returns submitted by companies. b. Communicate to SEBI, status of implementation of the requirements of this circular in the next Monthly Development Report. V . This circular is issued in exercise of powers conferred by sub-section (1) of Section 11, read with sub-section (2) of Section 11A, of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. The provisions of SEBI circular No. SEBI/CFD/DIL/CIR-39/2004/11/01 dated November 1, 2004 regarding the Model Listing Agreement for Debentures to the extent inconsistent with the provisions of the instant circular shall sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ange. (1A) The same shall be subjected to limited review by the statutory auditors of the company (or in case of public sector undertakings, by any practicing Chartered Accountant) and a copy of the limited review report prepared on the lines of the format given in Section BB shall be furnished to the stock exchange within two months from the end of the quarter. (a) after Section B, the following section shall be inserted, namely: BB. Formats of limited review reports The limited review report mentioned in item (1A) of Section A shall be furnished in the following formats: (I) Format for the limited review report for companies other than banks: We have reviewed the accompanying statement of unaudited financial res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion consists principally of applying analytical procedures for financial data and making inquires of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. In the conduct of our Review we have relied on the review reports in respect of nonperforming assets received from concurrent auditors of _________ branches, inspection teams of the bank of _______ branches and other firms of auditors of _________ branches specifically appointed for this purpose. These review ..... X X X X Extracts X X X X X X X X Extracts X X X X
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