The Hindu Business Line : SEBI amends debenture listing agreement

The Securities and Exchange Board of India has amended the listing agreement for debentures in order to rationalise the provisions of continuous disclosures made by issuers who have listed their debt securities and not their equity shares.

As per its order on Tuesday, issuers whose debentures have been issued on private placement basis shall submit unaudited half-yearly results subject to a limited review instead of half-yearly audited results, as required at present.

Issuers whose debentures have been issued on public or rights issue basis shall be required to submit unaudited quarterly results subject to a limited review, instead of unaudited quarterly results without limited review required at present. The results are to be submitted to the exchange within one month from the end of the reporting period and a copy of the limited review report prepared by the statutory auditors of the company (or in the case of public sector undertakings, by any practicing Chartered Accountant) is to be submitted within two months from the end of the period.

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