SEBI issues Listing Obligations and Disclosure Requirement (Second Amendment) Regulations, 2025; Enhances the list of disclosures to be made by the listed entities under Schedule III, Para D

The Securities and Exchange Board of India (“SEBI”) has introduced SEBI (Listing Obligation and Disclosure Requirements) (Second Amendment), Regulations, 2025.The Amendments are effective from May 01, 2025.

Key highlights of the amendments are as follows:

• In addition to the existing disclosure under Schedule III, Para D of the SEBI (LODR) Regulations, 2015, Special Purpose Distinct Entity or its Trustees shall make following disclosures to the Stock Exchange(s) on annual basis:

• Outstanding litigations and material developments in relation to the originator or servicer or any other party to the transaction which could be prejudicial to the interests of the investors shall be disclosed by special purpose distinct entity or its trustee to the stock exchange on annual basis.
• Disclosure about defaults in connection with servicing obligations undertaken by servicer shall be disclosed by special purpose distinct entity or its trustee to the stock exchange on annual basis.
• Special Purpose Distinct Entities may obtain SCORES registration at Trustee level.

Source: Securities and Exchange Board of India