SEBI on February 08, 2023 has published the Consultation paper on review of Corporate Governance norms for a High Value Debt Listed Entity. The said proposal shall be applicable to High Value Debt Listed Entities having:
- Only listed non-convertible debt securities; and
- 90% or more of the shareholders in number are related parties.
Where a General Meeting(GM)is to be conducted,in which an agenda item relating to RPTs is proposed to be placed for approval by shareholders,the company shall send a copy of such agenda item to the debenture holders holding listed non-convertible debt securities.
Debenture holders shall submit their objection, if any,in writing or through electronic mode to the Company within 7 days from the date of the dispatch of the agenda item.