Comments sought on HVDLE norms
1 min read . Updated: 08 Feb 2023, 11:46 PM IST
Premium- This comes as Sebi received representations made by HVDLEs seeking exemption requests with certain listing obligations and disclosure requirements (LODR) regulations.
The Securities and Exchange Board of India on Wednesday floated a consultation paper seeking comments on review of corporate governance norms for a high value debt listed entity (HVDLE). The public comments have been sought till 22 February.
This comes as Sebi received representations made by HVDLEs seeking exemption requests with certain listing obligations and disclosure requirements (LODR) regulations. Essentially, HVDLEs are listed companies which have listed their non-convertible debt securities (NCDs) with an outstanding value of ₹500 crore and above.
According to the regulator, the LODR regulations further states that in case an entity triggers the specified threshold of ₹500 crore during the course of the year, it must ensure compliance with the provisions of corporate governance norms within 6 months from the date of such trigger.
The provisions were made applicable on a ‘comply or explain’ basis until 31 March and on a mandatory basis thereafter.
