The Bombay Stock Exchange (“BSE”) on 16th September, 2020 has issued a Notice regarding “Clarification pertaining to submission of disclosures along with the financial statements by listed entities for the purpose of compliance with SEBI CP circulars read with SEBI LODR Regulations, 2015 (“Regulations”)”.
BSE has informed that Securities and Exchange Board of India (“SEBI”) has advised that the issuer(s) of the listed CP, while submitting half yearly/annual financial statements to the Exchange must disclose detailed data regarding previous due dates for repayment of principal of CPs/NCDs/NCRPS along with the payments of interest /dividend for NCDs/ NCRPS and whether the same has been paid or not.
The disclosures should be done as per the provisions of *Regulation 52(4)(d) of the Regulations.
The issuer should disclose information for all outstanding ISINs about previous due date for the payment of interest/ dividend for non-convertible redeemable preference shares/ repayment of principal of non-convertible preference shares /non-convertible debt securities/Commercial Papers and whether the same has been paid or not.
Further, if the issuer has paid any amounts in the current reporting period, which was due in the previous reporting periods, the same shall also be disclosed along with the financial results.
CP issuers are advised to ensure strict compliance of the above while submitting their financial results.
Background:
SEBI has issued a communication to the Exchange with regards to compliance with the SEBI Commercial Papers (CP) circulars read with Regulation 52(4)(d) of SEBI LODR Regulations, 2015.
It has been observed that some issuers of Listed CPs had not disclosed their CP obligations in the FY 19-20 financial statements, which was required under the SEBI Commercial Papers (CP) circulars read with Regulation 52(4)(d) of SEBI LODR Regulations, 2015.
In light of this, the present Notice has been issued by BSE.
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*Regulation 52: Financial Results:
(…)
(d) previous due date for the payment of interest/ dividend for non-convertible redeemable preference shares/ repayment of principal of non-convertible preference shares /non-convertible debt securities and whether the same has been paid or not; and,
(…)
Source: Bombay Stock Exchange
