9911796707
TMI BlogDisclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions and unlisted debt securitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... ock exchanges. Specific disclosures are required under the SEBI LODR Regulations in certain matters such as delay / default in payment of interest / principal on debt securities such as Non-Convertible Debt (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS) etc. It has been observed that similar disclosures are generally not made by listed entities with respect to loans from banks and financial institutions. 2. Corporates in India are even today primarily reliant on loans from the banking sector. Many banks and financial institutions are presently under considerable stress on account of large loans to the corporate sector turning into stressed assets / Non-performing Assets (NPAs). Some companies have also been taken up for init ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd NCRPS, the disclosure shall be made promptly but not later than 24 hours from the occurrence of the default. This is in line with the existing disclosure requirements specified for listed debt instruments. Disclosures shall be made in the format(s) specified in Paras 3 (C1) and (C2) below. C. Disclosure formats: C1. The following details shall be disclosed by listed entities for each instance of default, as specified in Para 3 (B) above: a. For loans including revolving facilities like cash credit from banks / financial institutions: Sr. No Type of disclosure Details 1. Name of the Listed entity 2. Date of making the disclosure 3. Nature of obligation 4. Name of the Lender(s) 5. Date of default 6. Current defaul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on date B. Of the total amount outstanding, amount of default as on date 2. Unlisted debt securities i.e. NCDs and NCRPS A. Total amount outstanding as on date B. Of the total amount outstanding, amount of default as on date 3. Total financial indebtedness of the listed entity including short-term and long-term debt The above disclosure shall be made within 7 days from the end of each quarter. 4. As far as disclosures pertaining to default of listed NCDs / listed NCRPS / listed Commercial paper are concerned, the same would continue to be made as per the present provisions of the SEBI Regulations and Circulars issued thereunder. 5. Disclosures as applicable in terms of this circular, including quarterly disclosure, shall be ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
