In order to align the requirements for appointment of an independent third-party reviewer/ certifier for green debt securities with that specified for social bonds/sustainability bonds, issued vide SEBI circular dated June 05, 2025, SEBI vide Circular No. HO/17/11/24(1)2026-DDHS-POD1/I/5967/2026 dated February 27, 2026 has modified Chapter IX of Master Circular for issue and listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper [Ref. No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137] dated October 15, 2025 (hereinafter referred to as “NCS Master Circular”).
The following modifications have been made in Chapter IX of the NCS Master Circular:
a. Deletion of Paragraph 1.8.
b. Insertion of “paragraph 5” as stated in SEBI circular dated February 27, 2026.
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