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SEBI Board Meeting 30 September, 2024 Amendment for companies proposing to list their Non-Convertible Securities. - MMJC
Amendment relevant for companies proposing to list their non-convertible securities.
Clause 3.3.32 of Schedule I of the NCS Regulations, 2021, mandates that the names of the debenture trustee(s) be mentioned, along with a statement confirming that the debenture trustee(s) has consented to the appointment. Now debenture trustees will have to enter into a Debenture Trust Deed before issue of prospectus. Accordingly, this would lead to change in various timelines before the issue of prospectus. Copy of debenture trust agreement shall be made accessible to the investors in the form of a ‘QR code’ or ‘web-link’ in the offer document.
In case of General Information Document (GID) – Key Information Document (KID) mechanism or Shelf prospectus-tranche prospectus mechanism, a copy of the consent letter shall be disclosed as part of the GID or shelf prospectus and a copy of the DTA shall be accessible by ‘QR code’ or web-link as part of the KID or tranche prospectus.