MANU/SMIS/0002/2023

Ministry : Securities and Exchange Board of India

Department/Board : Department of Debt and Hybrid Securities

Circular No. : SEBI/HO/DDHS/RACPOD1/CIR/P/2023/003

Date : 05.01.2023

Notification/ Circulars Referred : Circular SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2021/618 dated August 13, 2021 MANU/SSMD/0033/2021;Circular SEBI/HO/MIRSD/CRADT/CIR/P/2022/38 dated March 29, 2022 MANU/SSMD/0009/2022

Citing Reference:
Circular SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2021/618 dated August 13, 2021 MANU/SSMD/0033/2021  Referred

Circular SEBI/HO/MIRSD/CRADT/CIR/P/2022/38 dated March 29, 2022 MANU/SSMD/0009/2022  Referred

To,

Issuers who have listed and/ or propose to list Non-Convertible Securities, Securitised
Debt Instruments, Security Receipts, Municipal Debt Securities or Commercial Paper;
Recognized Stock Exchanges;
All Debenture Trustees registered with SEBI;
All Credit Rating Agencies registered with SEBI;
All Depositories registered with SEBI

Madam/ Sir,

Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the 'Security and Covenant Monitoring' system hosted by Depositories

1. SEBI vide Circular SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2021/618 dated August 13, 2021 specified the manner of recording of charges by Issuers and manner of monitoring and other responsibilities of stakeholders for 'Security and Covenant Monitoring' using Distributed Ledger Technology (DLT). Further, vide circular SEBI/HO/MIRSD/CRADT/CIR/P/2022/38 dated March 29, 2022 the Operating Guidelines of the said system using DLT, including roles and responsibilities of the various stakeholders involved, were specified.

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