Legal Entity Identifier Code now mandatory for bond issuers
Ajay Ramanathan, Executive | ajay@vinodkothari.com
Background
Legal Entity Identifier (LEI) Code is a unique 20-digit code used to identify legal entities that engage in financial transactions worldwide in order to improve the quality and accuracy of financial data systems for better risk management post the global financial crisis by establishing a global reference system.
Prior to the present SEBI Circular, all non-individual borrowers availing an aggregate exposure[1] of Rs. 5 crore and above from banks and financial institutions were mandated to obtain LEI Code over the prescribed timeline.
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