The Securities and Exchange Board of India (SEBI) has issued a Consultation Paper on May 14, 2018 with a view to propose changes in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to listed companies which have listed its Non-convertible debt securities (NCDs) or Non-convertible redeemable preference shares (NCRPS) or both.
Vide this Consultation Paper; the key provisions which are proposed to be reviewed are given below:
1. As per the LODR Regulations, Listed Companies should intimate the stock exchanges about the date when interest and redemption amount is payable on debentures, bonds and redeemable shares at least 11 days before such date; or its intention to raise funds through issuance of NCDs or NCRPS; or at least 2 days prior to the meeting of its board of directors. Vide this Consultation Paper, it is proposed that a listed entity should within 5 working days prior to the beginning of the quarter provide details for all the NCDs or NCRPS for which interest/dividend shall be payable or redeemable during the quarter.
2. The listed entity may disclose on its website all such events or information which has been disclosed to stock exchange(s) under the LODR Regulations, and such disclosures may be hosted on the website of the listed entity for a minimum period of 5 years.
3. The Consultation proposes the list of events/information which are required to be disclosed by the listed entity without any application of guidelines of materiality as soon as reasonably possible but not later than twenty four hours from occurrence of event or information.
Comments and suggestions are invited from the stakeholders on this Consultation Paper, in the prescribed format, which should be sent on or before June 11, 2018through e-mail to firstname.lastname@example.org or sent by post at the following address: Ms. Richa G. Agarwal, Deputy General Manager Department of Debt and Hybrid Securities, Securities and Exchange Board of India, SEBI Bhavan Plot No. C4-A, "G" Block BandraKurla Complex Bandra (East), Mumbai - 400 051.