SEBI vide Notification No. SEBI/LAD-NRO/GN/2016-17/005 dated 25/05/2016 issued the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference Shares) (Amendment) Regulations, 2016 thereby making some amendment in existing Regulation such as insertion of definition of “Wilful Defaulter”, disclosures relating to willful defaulter etc.
The said Amended Regulation can be accessed at the following link:SEBI_Issue and Listing of Non Conve. Rede Pref Shares_Amend Reg. 2016- dt 25.05.16