Mumbai, July 15 (IANS) The Securities and Exchange Board of India (SEBI) has relaxed compliance norms for listed entities intending to list their Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPSs) and Commercial Papers (CPs).
The security markets regulator said that it has now received representations from listed entities seeking extension of time for listing their NCDs, NCRPSs and CPs, pending finalisation of their annual accounts for the financial year ending March 31, 2020.
“Accordingly, it has been decided to permit listed issuers who have issued NCDs/NCRPS/ CPs, on or after July 1, 2020 and intend/propose to list such issued NCDs/NCRPS/CPs, on or before July 31, 2020, to use available financials as on December 31, 2019,” the SEBI circular said.
General listing of such debt securities requires the issuer to submit its latest audited financials which should not be older than six months.
With the latest relaxation, listed entities have been allowed the entities to use financials as of December 31, 2019 for their planned listing of NCDs and CPs on or before July 31.
The development comes after the SEBI had last month extended the timelines for submission of financial results for the quarter, half year and financial year ended March 31 till July 31.
–IANS
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