LIST/COMP/23/2020-21
Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/DDHS/CIR/P/103/2020 dated June 23, 2020, regarding Operational framework for transactions in defaulted debt securities post maturity date/ redemption date under provisions of SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
Vide this circular, it has been decided to introduce an operational framework for transactions in defaulted debt securities Accordingly, this circular outline the operational framework for transactions in defaulted debt securities and prescribes the obligations of Issuers, Debenture Trustee(s), Depositories and Stock Exchange(s) while permitting such transactions.
The operational framework has been outlined in Annexure A and the same is also presented in a tabular form along-with timelines in Annexure B, for ease of reference.
The provisions of this circular shall come into force from July 01, 2020.
The aforesaid circular is attached for reference.
Listed Companies are requested to take note and comply accordingly.
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Abhijit Pai
Dy. General Manager
Listing Compliance
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Shyam Bhagirath
Associate Manager
Listing Compliance
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June 24, 2020
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