SEBI rationalizes issuances on Electronic Book Platform – Limits | Bidding Process | Anchor Investor | Basis of Allotment
– Kaushal Shah, Executive & Lovish Jain, Executive | corplaw@vinodkothari.com Also read our articles on the topic here
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Maintenance of security cover for secured debt made transparent by SEBI
/3 Comments/in Corporate Laws, SEBIDebenture trustees responsible for monitoring the security cover and covenants effective October 1, 2022 – Vinita Nair, Senior Partner | corplaw@vinodkothari.com Background Securities and Exchange Board of India (‘SEBI’) is carrying out radical changes in relation to monitoring the security cover and covenants with respect to listed debt securities. Recently, SEBI amended SEBI (Listing Obligations […]
Exploring Core Financial Services Solution for NBFCs
/0 Comments/in Financial Services, NBFCs, RBI, scale based regulationsApplicability, Features, Modules & Challenges – Subhojit Shome, Executive and Parth Ved, Executive | finserv@vinodkothari.com Background As a part of the overhaul for the NBFC Sector, the Reserve Bank of India (‘RBI’) had, on October 22, 2021, introduced the Scale Based Regulations (SBR): ‘A Revised Regulatory Framework for NBFCs’. Upon application of SBR, NBFCs will […]
State moneylending laws don’t apply to NBFCs, holds SC
/0 Comments/in Financial Services, NBFCsTimothy Lopes, Manager | tim@vinodkothari.com In a landmark judgment dated 10th May, 2022, the Supreme Court in Nedumpilli Finance Company Limited vs State of Kerala & ors[1] held that the money lending laws will not apply in the case of NBFCs regulated by RBI. This ends an age-old quarrel between the States and NBFCs.
Corporate governance enforced on debt listed entities
/0 Comments/in Corporate Laws, LODR, SEBILODR (Fifth Amendment) Regulations, 2021 notified Payal Agarwal, Executive (payal@vinodkothari.com) Brief background SEBI has, continuing with its trends of the recent months, notified SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2021 [hereinafter referred to as the “Amendment Regulations”] on 7th September, 2021 to amend the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 […]
Checklist for issuance of listed debt securities on private placement basis
/1 Comment/in NCS, NCS, SEBIPayal Agarwal, Executive ( payal@vinodkothari.com) Non-convertible debentures issued on private placement basis are one of the most practiced ways of raising finance by the companies in India. Considering the notification of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, effective from 16th August, 2021, the companies may be under a perplexity of how to […]
Consolidation of SEBI regulations on non-convertible securities
/1 Comment/in Corporate Laws, NCS, SEBISEBI measure may ease out issuance of debt securities Team Corplaw (corplaw@vinodkothari.com) Introduction – By a 9th August, 2021 Notification, SEBI has consolidated the regulatory framework pertaining to issue of non-convertible debentures (‘NCDs’), non-convertible preference shares (‘NCPS’), perpetual debt securities (‘PDIs’), and listed commercial paper. Along with the consolidation exercise, SEBI has also tried to […]
Mandatory bond issuance by large corporate borrowers: FAQs
/5 Comments/in Bond Market, Capital Markets, SEBI– By Corporate Law Division, Team Vinod Kothari & Company (corplaw@vinodkothari.com) – Updated 17th February, 2023 Table of Contents Background Applicability Meaning of entities having listed securities Outstanding Long Term Borrowing Credit Rating Compliances required under LCB Framework Incremental borrowings Disclosure requirements Penal provisions Background The Government as well as the capital markets regulator SEBI […]