Regulation 12 under Chapter III (Common Obligations of Listed Entities) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding "payment of dividend or interest or redemption or repayment" is as under:
“The listed entity shall use any of the electronic mode of payment facility approved by the Reserve Bank of India, in the manner specified in Schedule I, for the payment of the following:
(c) redemption or repayment amounts:
Provided that where it is not possible to use electronic mode of payment, 'payable-at-par' warrants or cheques may be issued:
Provided further that where the amount payable as dividend exceeds one thousand and five hundred rupees, the 'payable-at-par' warrants or cheques shall be sent by speed post.”
(1) Various Compliance Formats under Listing Regulations (LODR) 2015 is available at BSE site.
(2) For latest copy of the regulation and any amendments thereto, kindly check at the SEBI site.
Post Last Updated On 16th October 2016