The Security and Exchange Board of India (SEBI) extended the timeline for implementation of Creation of Security in issuance of listed debt securities and ‘due diligence’ by the debenture trustee.
The Board has received representations from debenture trustees with regard to extension of the date of applicability of the provisions of the aforesaid circular.
Earlier, SEBI issued the circular dated November 3, 2020, specified requirements with regard to creation of security in issuance of listed debt securities and due diligence to be carried out by debenture trustee(s), which were applicable from January 01, 2021.
However, after taking into consideration the representation received from debenture trustees, and the challenges arising out of the prevailing business and market conditions due to the COVID-19 pandemic, the Board has decided to extend the implementation date of the provisions of the circular to April 01, 2021.
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