Monday October 21 2013

News Source: Global Exchanges

Focus: Fixed Income

Type: General

Country: India

Link:




It has been reported that the Securities and Exchange Board of India (SEBI) has asked the corporate affairs ministry to clarify the applicability of the new Companies Act of 2013 on firms with listed non-convertible debt securities (NCDs).

Presently, a listed company issuing convertible debentures need to comply with the provisions of SEBI regulations for the issue and listing of debt instruments issued in 2009, along with provisions of the 1956 Companies Law.

SEBI has written to the ministry to assess if the regulator’s regulations for such instruments are in sync with the Companies Act of 2013, for which rules are currently being finalised.

This information will be updated as soon as further details become available.