valid as on 22/10/2020

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 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
Omitted vide SEBI (LODR) (Third Amendment) Regulations, 2020 dated 08.10.2020. To view the notification, Click Here

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


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