Deferment of implementation of Circular dated 4^th August, 2017

SEBI had, vide circular no. CIR/CFD/CMD/93/2017 dated 4^th August, 2017, issued guidelines for listed entities with respect to making disclosures about defaults on payment or repayment of principal amount on loans from banks or financial institutions, debt securities.

SEBI had stated in that circular that disclosures shall be made to stock exchanges when a listed entity has defaulted in payment of interest or instalment obligations on debt securities, Medium Term Notes (MTNs), Foreign Currency Convertible Bonds (FCCBs), loans from banks and financial institutions, External Commercial Borrowings (ECBs).

SEBI had provided a list of disclosures which the listed entities were required to provide in that circular.

This circular was going to effective from 1^st October, 2017.

However, SEBI vide press release no. PR No.59/2017 dated 29/09/2017 has deferred the implementation of the above mentioned circular until further notice.

Copy of the circular dated 04/08/2017 can be downloaded from the following link:

http://www.sebi.gov.in/legal/circulars/aug-2017/disclosures-by-listed-entities-of-defaults-on-payment-of-interest-repayment-of-principal-amount-on-loans-from-banks-financial-institutions-debt-securities-etc_35538.html

Copy of the press release dated 29/09/2017 deferring the implementation of the circular can be downloaded from the following link:

http://www.sebi.gov.in/media/press-releases/sep-2017/deferment-of-implementation-of-circular_36143.html