SEBI vide circular dated 11th April, 2022 has issued the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Third Amendment) Regulations, 2022. The amendment provides that In respect of its secured listed non-convertible debt securities, the listed entity shall maintain hundred percent security cover or higher security cover as per the terms of offer document/Information Memorandum and/or Debenture Trust Deed, sufficient to discharge the principal amount at all times for the non-convertible debt securities issued.
