valid as on 16/05/2024

Regulation 59. Structure of non convertible debt securities and non convertible redeemable preference shares.
Effective date 01.12.2015

Structure of non convertible debt securities and non convertible redeemable preference shares.

59. (1) The listed entity shall not make material without of the stock exchange(s) where the non convertible debt securities or non-convertible redeemable preference shares, as applicable, are listed, to:

(a) the structure of the debenture in terms of coupon, , redemption, or otherwise.

(b) the structure of the non-convertible redeemable preference shares in terms of dividend , redemption, or otherwise.

(2)  The approval of the stock exchange referred to in sub-regulation (1) shall be made only after:

(a) approval of the board of directors and the debenture trustee and

 obtaining consent in writing of the holders of not less than three-fourths, by value of holders of that class of securities:

Provided that the listed entity shall provide the facility of remote e-voting to facilitate such consent.

(b) after complying with the provisions of Companies Act, 2013 including approval of the consent of requisite majority of holders of that class of securities.

 

Refer  SEBI Master Circular for Debenture trustees updated as on 06.07.2023 for the manner of change in security/ creation of additional security/ conversion of unsecured to secured in case of already listed debt securities. 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 dated 13.11.2020 regarding Non-compliance with provisions related to continuous disclosures. To view the circular,Click Here
Substituted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Omitted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Omitted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Omitted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here
Substituted vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 dated 07.09.2021. To view the notification, Click Here

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


SEBI Circular dated 13.11.2020 regarding Non-compliance with provisions related to continuous disclosures


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


SEBI Master Circular dated 31.03.2023 updated as on 06.07.2023 for Debenture trustees.


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