Sebi, in a circular, said Listing Obligations and Disclosure Requirements (LODR) regulations require entities holding listed non-convertible securities to report the status of payment obligations (payment of interest or dividend or repayment or redemption of principal) within one business day from the due date of payment.
Previously, the rule required issuers of listed commercial paper to submit a certificate certifying their fulfillment of their payment obligations within two days of the due date.
The Securities and Exchange Commission said it was amending the rules to harmonize the timelines for notifying stock exchanges about the status of payment obligations on listed nonconvertible securities and listed commercial paper.
This change applies to entities that report interest, dividend payments, or principal redemptions.
