CAIRR Update April 12, 2022

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CAIRR Update April 12, 2022

April 12, 2022
Summary of the amendments issued by SEBI, NSE and IBBI dated 08/04/2022 and 11/04/2022
SEBI amends provision related to asset/security cover under LODR Regulations.
Through this notification, SEBI has replaced the term ‘asset’ with ‘security’ and requires the issuer of the secured non-convertible debt securities to ensure that the security shall be sufficient to discharge the interest amount, in addition to the principal, at all times.
NSE facilitates offline XBRL filling utility for filing of Investor Complaints under LODR Regulations.
SEBI requires filing of Investor Grievance Report under Regulation 13(3) by all  listed companies in XBRL mode only. With a view to make the disclosures more accurate and efficient, NSE has introduced an offline excel utility for XML/XBRL generation. The detailed steps are provided in the hyperlinked circular.
Clarification with respect to Temporary Surrender of Professional Membership under IBC, 2016 and its Regulations.
Pursuant to the introduction of provision of ‘Authorisation for Assignment’ in the Schedule to IBBI ((Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, vide IBBI’s notification dated 23/07/2019, IBBI hereby clarifies that the process of ‘Temporary Surrender of Professional Membership,’ ceases to exist with issuance of above mentioned notification.

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