valid as on 24/10/2021

Regulation 54. Asset Cover.
Effective date 01.12.2015

Asset Cover.

54. In respect of its listed non-convertible debt securities, the listed entity shall maintain hundred per cent.  asset cover or asset cover as per the terms of offer document/ Information Memorandum and/or Debenture Trust Deed, sufficient to discharge the principal amount at all times for the non-convertible debt securities issued.”

(1) In respect of its listed non-convertible debt securities, the listed entity shall maintain hundred percent. asset cover sufficient to discharge the principal amount at all times for the non-convertible debt securities issued.

(2)  The listed entity shall disclose to the stock exchange in quarterly, half-yearly, year-to-date and annual financial statements, as applicable, the extent and nature of security created and maintained with respect to its secured listed non-convertible debt securities.

 The listed entity shall disclose the asset cover available in case of non-convertible debt securities along with its financial results in the format as specified by the Board.

  The requirement specified in sub-regulation (1), shall not be applicable in case of unsecured debt securities issued by regulated financial sector entities eligible for meeting capital requirements as specified by respective regulators.

Substituted vide SEBI (LODR) (Third Amendment) Regulations, 2020 dated 08.10.2020. To view the notification, Click Here
Inserted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here

Refer SEBI Circular- Revised Formats for filing Financial information for issuers of non-convertible securities dated 05.10.2021. To view the notification, Click Here
Inserted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Omitted vide SEBI (LODR) (Third Amendment) Regulations, 2020 dated 08.10.2020. To view the notification, Click Here

SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021


SEBI (LODR) (Third Amendment) Regulations, 2020 dated 08.10.2020


SEBI Circular-Revised Formats for filing Financial information for issuers of non-convertible securities dated 05.10.2021


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