17th August 2017
NOTICE
SUB: Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions, debt securities, etc.
To all Listed Companies
Attention of such aforesaid listed companies are drawn to SEBI Circular Ref. No. CIR/CFD/CMD/93/2017 dated August 4, 2017 (copy available at CSE web-site at www.cse-india.com and SEBI web-site at www.sebi.com) wherein
“SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”) currently require disclosure of material events / information by listed entities to stock exchanges. Specific disclosures are required under the SEBI LODR Regulations in certain matters such as delay / default in payment of interest / principal on debt securities, including listed Non-Convertible Debentures, listed Non-Convertible Redeemable Preference Shares, Foreign Currency Convertible Bonds (FCCBs) etc. Similar disclosures are presently not stipulated with respect to loans from banks and financial institutions.”
“Applicability:
“The entities shall make disclosures within one working day from the date of default at the first instance of default in the format specified in Clause C1”.
“This circular shall come into effect with effect from October 1, 2017. This is to enable listed companies to put appropriate systems in place for prompt submission of disclosures as stipulated in this circular”.
This is for information and necessary action.
CS Chandrani Datta
Executive-Listing