On 3-10-2022, the Securities and Exchange Board of India (‘SEBI’) has issued a circular on extension of timeline for entering the details of the existing outstanding non- convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
The issuers have to ensure that they enter the details into the Distributed Ledger Technology system on or before 31-10-2022. The Debenture Trustees will then have to verify the same by 31-12-2022.
*Kriti Kumar, Editorial Assistant has reported this brief.