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[hfe_template id='11223'] [ad_1] The Securities and Exchange Board of India (Sebi) has provided clarification on recently amended norms on approvals for debt sales, following feedback from market players who had flagged operational difficulties in carrying out bond issuances due to the regulations. With effect from September 18, 2024, inserted vide Sebi's regulations on issue and listing of non-convertible securities (second amendment), the markets regulator had said that persons authorised by issuers shall attest that the contents of documents have been perused by the board of directors and the final and ultimate responsibility of the contents would also lie with the board of directors. Essentially this meant that boards of directors would have to give a go-ahead even for key information documents (KID), which are the papers that contain periodic updates for upcoming bond issuances. Earlier, it was sufficient for an entity to receive board approval for a ballpark am...

[hfe_template id='11223'] [ad_1] Aimed at promoting ease of doing business for non-convertible securities, market regulator Securities and Exchange Board of India (Sebi) on Friday released a consultation paper seeking feedback on proposals, including alignment of provision regarding approval and authentication of financial results for entities having listed non-convertible securities with that for equity listed entities. Under the proposed norms, the quarterly financial results submitted shall be approved by the board of directors. Further, the financial results submitted to the stock exchange shall be signed by the chairperson or managing director, or a whole-time director. In the absence of all of them, it should be signed by any other director of the listed entity who is duly authorised by the board of directors to sign the financial results. Under the current regulation, listed non-convertible securities requires quarterly results to be taken on record by the board o...