SEBI EASES NORMS FOR LISTING DEBT

NEW DELHI: The Securities and Exchange Board of India (Sebi) on Wednesday eased compliance norms for entities planning to list debt securities, including NCDS and commercial papers, on account of the Covid-19 pandemic. In a circular, the regulator said it has decided to permit listed issuers who have issued NCDS, non-convertible redeemable preference shares and commercial papers, on or after July 1 and propose to list such securities on or before July 31 to use available financials as on December 31, 2019. The decision has been taken after Sebi received representations from listed entities seeking extension of time for listing their debt securities pending finalisation of their annual accounts for the financial year ended March 31, 2020. Under the norms, listing of such debt securities requires an issuer to submit its latest audited financials which should not be older than six months. Compliant listed entities are, however, permitted to use unaudited financials with limited review in lieu of the audited financials for the interim period, subject to these unaudited financials not being older than six months.