SEBI on Friday modified the timeline for entities with listed commercial papers to report the status of their payment obligations within one working day of the payment due date, bringing it in line with the reporting requirements for non-convertible securities.
The move will enhance transparency for stakeholders and ensure timely disclosures by the entities.
In its circular, SEBI said, the Listing Obligations and Disclosure Requirements rules mandate entities with listed non-convertible securities to report the status of their payment obligations (payment of interest or dividend or repayment or redemption of principal) within one working day of its payment becoming due.
Earlier, the rule required issuers of listed commercial papers to submit a certificate confirming the fulfilment of their payment obligations within two days of payment becoming due.
SEBI said it has amended the rule in order to align the timeline of intimating stock exchanges regarding status of payment obligations for listed non-convertible securities and listed commercial paper.
The change will apply to entities reporting the payment of interest, dividends, or the redemption of principal amounts.
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