valid as on 06/12/2022

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  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 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 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 the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022. To view the Notification, Click Here.
Substituted vide SEBI (LODR) (Third Amendment) Regulations, 2020 dated 08.10.2020. To view the notification, Click Here
Inserted vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022. To view the Notification, Click Here.
Replaced vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022. 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 on ‘Security and Covenant Monitoring’ using Distributed Ledger Technology dated 13.08.2021. To view the Circular, Click Here.

Also refer SEBI’s Operational guidelines for ‘Security and Covenant Monitoring’ using Distributed Ledger Technology (DLT) dated 29.03.2022. To view the notification, Click Here.

 Inserted vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022. To view the Notification, Click Here.
  1. Refer SEBI Circular dated 29.12.2021 effective from 01.02.2022 regarding Non-compliance with provisions related to continuous disclosures. To view the circular, Click Here.
  1. Refer SEBI Circular dated 29.12.2021 effective from 01.02.2022 regarding Non-compliance with provisions related to continuous disclosures. To view the circular, Click Here.
  2. 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
  3. Inserted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Substituted vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022. To view the Notification, Click Here.
Refer SEBI Circular dated 19.05.2022 for revised format on Security Cover. To view circular, 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


Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2022 dated 11.04.2022


SEBI Circular dated 03.10.2022 regarding Extension of timeline for entering the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories


SEBI Circular dated 19.05.2022 regarding Revised format of security cover certificate, monitoring and revision in timelines.


SEBI Circular dated 29.12.2021 regarding non-compliance with provisions related to continuous disclosures


SEBI Circular on ‘Security and Covenant Monitoring’ using Distributed Ledger Technology dated 13.08.2021


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


SEBI Operational guidelines for ‘Security and Covenant Monitoring’ using Distributed Ledger Technology (DLT) dated 29.03.2022


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