The Securities and Exchange Board of India (SEBI) on Friday updated the timelines for entities with listed commercial papers, now mandating that they report the status of their payment obligations within one working day of the due date. This new timeline aligns with the existing requirements for non-convertible securities.
Previously, issuers of listed commercial papers had to submit a certificate confirming the fulfillment of their payment obligations within two days of the due date. The revised rule is intended to enhance transparency for stakeholders and ensure timely disclosures.
According to Sebi’s circular, the Listing Obligations and Disclosure Requirements (LODR) rules already required entities with listed non-convertible securities to report the status of their payment obligations, including interest, dividends, or principal repayment, within one working day.
The recent amendment standardises the reporting timeline for both non-convertible securities and commercial papers.