Sebi extends compliance deadline for municipal bonds to July 31

Markets regulator Sebi on Tuesday further extended the deadline for issuers of municipal debt securities to comply with certain regulatory norms to July 31 in view of the Covid-19 crisis.

The relaxation pertains to submission of investor grievance report, financial results and accounts maintained by issuers under ILDM Regulation, Sebi noted in a circular.

In view of the situation arising due to the Covid-19 pandemic, Sebi in March had extended the timeline for submission of these reports to June 30, which has now been extended till July 31.

Providing relaxation from compliance with certain provisions of Issue and Listing of Municipal Debt Securities (ILDM) norms, Sebi said circular shall come into force with immediate effect.