In view of the situation arising due to Covid-19 pandemic, SEBI had earlier provided relaxations in timelines for compliance with certain regulatory provisions of SEBI Circular No. SEBI/HO/MIRSD/CRADT/CIR/P/2020/230 dated November 12, 2020 vide Circular no. SEBI/HO/MIRSD/CRADT/CIR/P/2021/561 dated May 03, 2021.
Due to further representations from the Debenture Trustees highlighting the challenges faced in complying with the requirements within the applicable timelines due to the difficulty in information sharing, limited functioning of the various offices and travelling restrictions and imposition of lock down in most states due to Covid-19.
In view of the above, SEBI has decided to extend the current timelines of 15th July 2021 for compliance with the following regulatory requirements of the SEBI circular dated November 12, 2020 for the quarter/half year/ year ending March 31, 2021, as under:
|Regulatory requirements of SEBI circular dated November 12, 2020||Extended Timeline|
Submission of reports/certifications to Stock Exchanges as per
clause 2.1 of the circular
|(a) Asset Cover Certificate||31.08.2021|
|(b) A statement of value of pledged securities||31.08.2021|
|(c) A statement of value for Debt Service Reserve Account (DSRA) or any other form of security offered||31.08.2021|
|(d) Net worth certificate of guarantor (secured by way of personal guarantee)||31.10.2021|
|(e) Financials/ value of guarantor prepared on basis of audited financial statement etc. of the guarantor (secured by way of corporate guarantee)||31.10.2021|
|(f) Valuation report and title search report for the immovable/
movable assets, as applicable
Following disclosures on the website as per clause 4 of circular:
i. Monitoring of asset cover certificate and quarterly compliance report of the listed entity.
Download Circular SEBI/HO/MIRSD/CRADT/CIR/P/2021/597 Click Here >>
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