Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-MH-E-01052025-262826
EXTRAORDINARY
PART III-Section 4
PUBLISHED BY AUTHORITY
No. 323]
NEW DELHI, TUESDAY, APRIL 29, 2025/VAISAKHA 9, 1947
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 29th April, 2025
SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) (SECOND AMENDMENT) REGULATIONS, 2025
F. No. SEBI/LAD-NRO/GN/2025/244 - In exercise of the powers conferred by section 11, sub-section (2) of
section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31
of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board hereby makes the following regulations to
further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, namely,-
1. These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) (Second Amendment) Regulations, 2025.
2. They shall come into force on the date of their publication in the Official Gazette.
3. In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015,
(1) In regulation 13, sub-regulation (2), the following proviso shall be inserted, namely,-
"Provided that in case of securitised debt instrument, SCORES registration may be taken at Trustee level
for all special purpose distinct entities, they are trustee of.”
(2) In Schedule III, in Part D, after clause 9, the following clauses shall be inserted, namely, -
"(10) Outstanding litigations and material developments in relation to the originator or servicer or any other
party to the transaction which could be prejudicial to the interests of the investors shall be disclosed by
special purpose distinct entity or its trustee to the stock exchange on annual basis.
(11) Disclosure about defaults in connection with servicing obligations undertaken by servicer shall be
disclosed by special purpose distinct entity or its trustee to the stock exchange on annual basis.”
BABITHA RAYUDU, Executive Director
[ADVT.-III/4/Exty./55/2025-26]
Footnotes:
1. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 were published in the Gazette of India on 2nd September 2015 vide No.
SEBI/LAD-NRO/GN/201516/013.
2. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, were subsequently amended on:
a) December 22, 2015 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Amendment) Regulations, 2015 vide notification no.
SEBI/LAD-NRO/GN/2015-16/27.
b) May 25, 2016 by Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2016 vide notification no.
SEBI/LAD-NRO/GN/2016-17/001.
c) July 8, 2016 by Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2016 vide notification no.
SEBI/LAD-NRO/GN/2016-17/008.
d) January 4, 2017 by Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2016 vide notification no.
SEBI/LAD-NRO/GN/201617/025.
e) February 15, 2017 by Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2017 vide notification no.
SEBI/LAD/NRO/GN/2016-17/029.
f) March 6, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode
of Payment) (Amendment) Regulations, 2017 vide Notification No. LAD-NRO/GN/2016-
17/037 read with March 29, 2017 by Securities and Exchange Board of India (Payment of
Fees and Mode of Payment) (Amendment) Regulations, 2017 vide notification no.
SEBI/LAD/NRO/GN/2016-17/38.
g) May 9, 2018 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/10.
h) May 30, 2018 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/13.
i) June 1, 2018 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/21.
j) June 8, 2018 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fourth Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/24.
k) September 6, 2018 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Fifth Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/30.
l) November 16, 2018 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Sixth Amendment) Regulations, 2018 vide notification no.
SEBI/LAD-NRO/GN/2018/47.
m) March 29, 2019 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2019 vide notification no.
SEBI/LAD-NRO/GN/2019/07.
n) May 7, 2019 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2019, vide notification no.
SEBI/LAD-NRO/GN/2019/12.
o) June 27, 2019 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2019, vide notification no.
SEBI/LAD-NRO/GN/2019/22.
p) July 29, 2019 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fourth Amendment) Regulations, 2019, vide notification no.
SEBI/LAD-NRO/GN/2019/28.
q) December 26, 2019 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Fifth Amendment) Regulations, 2019, vide notification
no. SEBI/LAD-NRO/GN/2019/45.
r) January 10, 2020 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2020, vide notification no. SEBI/
LAD-NRO/GN/2020/02.
s) April 17, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox)
(Amendment) Regulations, 2020 vide no. SEBI/LAD-NRO/GN/2020/10.
t) August 5, 2020 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2020, vide notification no.
SEBI/LAD-NRO/GN/2020/25.
u) October 8, 2020 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2020, vide notification no.
SEBI/LAD-NRO/GN/2020/33.
v) January 8, 2021 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2021, vide notification no. SEBI/
LAD-NRO/GN/2021/02.
w) May 5, 2021 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2021, vide notification no.
SEBI/LAD-NRO/GN/2021/22.
x) August 3, 2021 by the Securities and Exchange Board of India (Regulatory Sandbox)
(Amendment) Regulations, 2021 vide notification no. No. SEBI/LAD-NRO/GN/2021/30.
y) August 3, 2021 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2021, vide notification no.
SEBI/LAD-NRO/GN/2021/35.
z) August 13, 2021 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fourth Amendment) Regulations, 2021, vide notification no.
SEBI/LAD-NRO/GN/2021/42.
aa) September 7, 2021 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Fifth Amendment) Regulations, 2021, vide notification
no. SEBI/LAD-NRO/GN/2021/47.
bb) November 9, 2021 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Sixth Amendment) Regulations, 2021, vide notification
no. SEBI/LAD-NRO/GN/2021/55.
cc) January 24, 2022 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2022, vide notification No.
SEBI/LAD-NRO/GN/2022/66.
dd) March 22, 2022 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2022, vide notification No.
SEBI/LAD-NRO/GN/2022/76.
ee) April 11, 2022 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2022, vide notification
No. SEBI/LAD-NRO/GN/2022/79.
ff) April 25, 2022 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fourth Amendment) Regulations, 2022 vide notification No.
SEBI/LAD-NRO/GN/2022/80.
gg) July 25, 2022 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fifth Amendment) Regulations, 2022 vide notification
No. SEBI/LAD-NRO/GN/2022/88.
hh) November 14, 2022 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Sixth Amendment) Regulations, 2022 vide notification
No. SEBI/LAD-NRO/GN/2022/103.
ii) December 05, 2022 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Seventh Amendment) Regulations, 2022 vide notification
no. SEBI/LAD-NRO/GN/2022/109.
jj) January 17, 2023 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/117.
kk) February 7, 2023 by the Securities and Exchange Board of India (Payment of Fees and
Mode of Payment) (Amendment) Regulations, 2023 vide notification no. SEBI/LAD-
NRO/GN/2023/121.
ll) June 14, 2023 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Second Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/131.
mm) July 3, 2023 by the Securities and Exchange Board of India (Alternative Dispute
Resolution Mechanism) (Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/137.
nn) August 23, 2023 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Third Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/149.
oo) September 19, 2023 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Fourth Amendment) Regulations, 2023 vide notification
No. SEBI/LAD-NRO/GN/2023/151.
pp) October 09, 2023 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Fifth Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/155.
qq) October 20, 2023 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Sixth Amendment) Regulations, 2023 vide notification No.
SEBI/LAD-NRO/GN/2023/158.
rr) December 21, 2023 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Seventh Amendment) Regulations, 2023 vide notification
No. SEBI/LAD-NRO/GN/2023/161.
ss) May 17, 2024 by the Securities and Exchange Board of India Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) (Amendment)
Regulations, 2024 vide notification No. SEBI/LADNRO/GN/2023/177.
tt) July 10, 2024 by the Securities and Exchange Board of India Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment)
Regulations, 2024 vide notification No. SEBI/LAD-NRO/GN/2024/189.
uu) December 12, 2024 by the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Third Amendment) Regulations, 2024, vide notification
No. SEBI/LAD-NRO/GN/2024/218.
vv) March 28, 2025 by the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) (Amendment) Regulations, 2025, vide notification No.
SEBI/LAD-NRO/GN/2025/239.