CIRCULAR

CIR/IMD/DF/6/2015

September 15, 2015

To,

All Recognised Stock Exchanges

All Registered Merchant Bankers

All Credit Rating Agencies

All NBFCs through stock exchanges, where they are listed.

Dear Sir/Madam,

Disclosures to be made by NBFCs in the Offer Documents for public issue of Debt Securities under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

1.  SEBI, vide circular no. CIR/IMD/DF/12/2014 dated June 17, 2014, inter­alia, prescribed additional disclosures to be provided for public issue of debt securities by NBFCs.

2. Based on the feedback from market participants on disclosures in offer document by NBFCs, after due deliberations, it has been decided to align the disclosures made in the offer documents to be in line with the stipulations as required by the Reserve Bank of India (RBI).

3. In line with the above, the following modifications are being made to the additional disclosures to be provided for public issue of debt securities by NBFCs, as mentioned in SEBI circular CIR/IMD/DF/12/2014 dated June 17, 2014

a) Point 4 (I)(d) (iv) of the Circular shall be modified as follows: Aggregated exposure to the top 20 borrowers with respect to the concentration of advances, exposures to be disclosed in the manner as prescribed by RB! in its guidelines on Corporate Governance for NBFCs, from time to time.

b) Point 4 (I)(d) (v) of the Circular shall be modified as follows: Details of loans, overdue and classified as non-performing in accordance with RB! guidelines.

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