CONCESSION TO TRADE & INDUSTRY IN STATE OF JAMMU & KASHMIR

ISSUE OF COMMERCIAL PAPER

Ø Who can Issue Commercial Paper (CP)

Ø Credit Rating Requirement

Ø Limits and the Amount of Issue of CP

Ø Denominations

Ø Maturity and Grace Period

Ø Investment in CP

Ø Mode of Issuance

Ø Preference for Dematerialised Form

Ø Payment of CP

Ø Stand‑by Facility

Ø Who can act as Issuing and Paying Agent (IPA)

Ø Procedure for Issuance

Ø Role and Responsibilities

Ø Role of Fixed Income Money Market and Derivatives Association of India (FIMMDA)

Ø Reporting of Issuance of CP

Ø Reporting of Defaulters in Repayment of CP

Ø Penalties for Violation of Guidelines

Ø Non‑Applicability of Certain Other Directions

Ø Exemption from the Provisions of Section 58A of the Companies Act, 1956

Ø FEMA Regulations in Respect of Commercial Paper

Ø Appendix 38.I Schedule I

Ø Appendix 38.II Schedule II : Information to be Submitted by the Issuer of Commercial Paper

Ø Appendix 38.III Schedule III : Certificate

Ø Appendix 38.IV Details of Defaults on CP