NCD Issuance Reporting: New RBI Rules for Debenture Trustees

RBI/2010-11/146 FMD.MSRG.49/02.13.016/2010-2011 July 28, 2010 All Debenture Trustees Dear Sir, Reporting of Issuance of Non Convertible Debentures The Reserve Bank of India has issued the ‘Issuance of Non-Convertible Debentures (Reserve Bank) Directions, 2010’ vide IDMD.DOD.9/11.01.01(A)/2009-10 dated June 23, 2010 regarding regulation of non-convertible debentures of maturity up to one year(NCDs). In terms of paragraph 12.7 of the said Directions read with paragraphs 12.4, 12.5 and 12.6 ibid, the Debenture Trustees are required to report the details of issuance of the NCDs, the outstanding amount of NCDs and default in repayment of NCDs to the Financial Markets Department, Reserve Bank of India, Central Office, Mumbai 400 001. 2. You are advised to submit the required information as per format enclosed in Annex 1 (details of issuance of NCDs), Annex 2 (outstanding amount of NCDs), and Annex 3 (particulars of default in repayment of NCDs) to the Chief General Manager, Financial Markets Department, Reserve Bank of India, Central Office, Fort Mumbai 400 001 (Fax: 022-22630981/22634824; e-mail ). The required information may be submitted in hard as well as soft copies. While the report on issuance of NCDs may be submitted within three days from the date of completion of the issue and the report on default in repayment may be submitted immediately, the report on outstanding amount of NCDs may be submitted on quarterly basis within five working days from the completion of the calendar quarter to which the report pertains. Please acknowledge receipt. Yours sincerely, (Nishita Raje) Director

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/146 · issued 28 Jul 2010. The plain-English explanation above is BankPulse’s own independent summary.

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