Through a Circular dated 31st December, 2020 the Securities and Exchange Board of India (“SEBI”) has extended the date of implementation of the SEBI Circular SEBI/HO/MIRSD/CRADT/CIR/P/2020/218 dated 3rd November, 2020 to April 01, 2021 from January 01, 2021.
Background:
Through the abovementioned Circular dated 3rd November, 2020 SEBI had specified requirements with regard to creation of security in issuance of listed debt securities and due diligence to be carried out by debenture trustee(s), which were applicable from January 01, 2021.
Thereafter representations have been received from debenture trustees with regard to extension of the date of applicability of the provisions of the aforesaid circular. After taking into consideration the representation received from debenture trustees, and the challenges arising out of the prevailing business and market conditions due to COVID-19 pandemic the present extension has been granted.
Source: Securities and Exchange Board of India
