∆ High Value Debt Entities shall mean an entity which has listed its non-convertible debt securities on a recognised stock exchange and has an outstanding principal value of listed non-convertible debt securities of INR 500 Cr and more.
✓ It is pertinent to note that Regulation 15(1A) of the SEBI (Listing Obligations
and Disclosure Requirements), Regulations 2015 (‘Listing Regulations’) was introduced mandating that Reg. 15 to 27 of Listing Regulations shall be applicable to high value debt listed entities on a ‘comply or explain’ basis.
✓ Thereafter, Regulation 23 of the Listing Regulations on related party transactions was amended via SEBI Amendment Regulations dated November 9, 2021, mandating listed entities that have listed specified securities to submit to the stock exchanges disclosure of Related Party Transactions (RPTs) in the format specified by the Board.
✓ In furtherance, SEBI vide its circular dated November 22, 2021 has specified following disclosure obligations of listed entities in relation to Related Party Transactions with respect to specified securities:
a. Information to be reviewed by the Audit Committee for approval of RPTs;
b. Information to be provided to shareholders for consideration of RPTs and;
c. Format for reporting of RPTs to the Stock Exchange.
✓ As the provisions of Regulation 23 of the Listing Regulations would be applicable to high value debt listed companies also, SEBI has made provisions of the above referred circular dated November 22, 2021 applicable to high value debt listed entities.
✓ To refer, SEBI Circular please click here.
No comments:
Post a Comment