Clarification in respect of the compliance by the first-time issuers of debt securities under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 with Regulation 23(6)

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..... on-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities or Commercial Paper; All Recognized Stock Exchanges; All Debenture Trustees registered with SEBI; Dear Sir/ Madam, Sub: Clarification in respect of the compliance by the first-time issuers of debt securities under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, .....

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..... ocess of preparing for their first listed privately placed Non-Convertible Debentures ( NCDs ) or public issue of NCDs. They have requested that they may also be provided a time frame, as already provided to listed issuers, to amend their AoA to give effect to the above amendments since it requires formalities like approval from shareholders and conducting board and general meetings. The represent .....

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..... 5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 55 (1) and 56 of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 , to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 6. T .....

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