Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Mar 30, 2020

Reporting of Deviations in Use of Proceeds of Listed Non-Convertible Debt Securities or Listed NCRPS

SEBI, by its Circular dated January 17, 2020, has prescribed a format for the statement required to be made by entities with listed non-convertible debt securities or listed non-convertible redeemable preference shares (‘NCRPS’) to the stock exchanges under Regulation 52(7) of the SEBI LODR, setting out the variation in the use of proceeds of issue of such non-convertible debt securities or NCRPS from the objects set out in the offer documents. This statement is required to be placed before the audit committee (or the board of directors, in case of entities which are not required to have an audit committee) of the listed entity for their review. The statement is required to be submitted on a half-yearly basis within 45 days of the end of the half year, until such funds are fully utilised or the purpose for which these proceeds were raised has been achieved. The first submission is required to be made for the half year ended March 31, 2020.

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DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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