Beyond Formality: The Unfinished Reform of Debt Market Governance
On 27th March 2025, the Securities and Exchange Board of India (“SEBI”) introduced sweeping changes to the corporate governance framework applicable to High Value Debt Listed Entities (“HVDLEs”) under the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2025 (“LODR Amendment Regulations”). HVDLEs are entities that have listed non-convertible debt securities with an outstanding value…
