SEBI approves Changes to the Framework for Large Corporates!

Brief Overview: 

The Securities and Exchange Board of India (“SEBI”) has approved Changes to the Framework for Large Corporates.

Technical Details: 

The summary of proposals approved by SEBI are as follows:
1)  Higher monetary threshold for defining LCs;
2)  Removal of penalty on LCs failing to raise the prescribed incremental borrowings from the debt market;
3)  Retention of requirement for compliance with the framework over a contiguous block of three years;
4)  SEBI has dispensed with the requirement on LCs of:
(a) filing a statement identifying itself as an LC; and
(b)  statement regarding compliance with the framework.
For further details, please see:
For any queries / clarifications, please feel free to ping us and we will be happy to chat:

●  Ms. Apurva Kanvinde (

●  Mr. Smit Parekh (
●  Mr. Mannan Gala (

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