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Thursday, January 7, 2010

SEBI eases asset cover norms for unsecured debt

India's market regulator said on Thursday regulated finance companies now no longer need to show 100 percent asset cover while selling unsecured debt instruments to raise capital, removing an earlier requirement.

The Securities and Exchange Board of India (SEBI) had in November said that, in case of listed securities, the issuer should maintain 100 percent asset cover sufficient to discharge the principal.

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