Reg 50 prior intimation for a debt-listed board meeting
Advance notice to the stock exchange that the board of a debt-listed entity will consider one of the proposals in Reg 50(1).
2 working days before the board meeting
Counted from the date fixed for the board meeting, counted backwards from that date
- SEBI
- SEBI events and governance
- Not specified
- 2026-09-01
Two working days in advance, excluding the intimation date and the meeting date. The intimation goes to the stock exchange, not to the debenture trustee, and it goes in XBRL under Reg 50(4). Reg 50(2) adds a second trigger: intimation not later than the date on which notices start going out for a general meeting seeking approval of a Reg 50(1)(c) or 50(1)(d) proposal, or for a meeting of holders of non-convertible securities on a Reg 50(1)(e) matter.
The heading this obligation is usually filed under is wrong. Reg 50 is prior intimation to the stock exchange, not to the debenture trustee. Anyone who sends the notice only to the trustee has not complied with Reg 50 at all.
Deadlines counted from an event
At least two working days in advance of the board meeting, excluding the date of the intimation and the date of the meeting, for each of the five proposals listed in Reg 50(1). The intimation goes to the stock exchange in XBRL, under Reg 50(4).
Not later than the date on which the dispatch of notices commences, under Reg 50(2). There is no day count here: the deadline is the first day of dispatch itself, so days is zero and the rule text carries the meaning.
The rule
At least two working days in advance of the board meeting, excluding the date of the intimation and the date of the meeting, for each of the five proposals listed in Reg 50(1). The intimation goes to the stock exchange in XBRL, under Reg 50(4).
Not later than the date on which the dispatch of notices commences, under Reg 50(2). There is no day count here: the deadline is the first day of dispatch itself, so days is zero and the rule text carries the meaning.
Who must comply
- An entity with listed non-convertible securities
- Each of the five proposals listed in Reg 50(1)
Statutory basis
Before you file
- Fix the date of the board meeting.
- Identify which Reg 50(1) proposals are on the agenda.
- Count two working days backwards from the meeting date, and exclude both that date and the intimation date.
- Prepare the intimation in the XBRL format the exchange requires.
How to file
- Prepare the intimation naming the Reg 50(1) proposals.
- Submit it to the stock exchange at least two working days before the meeting.
- Submit it in XBRL, as Reg 50(4) requires.
- Send the separate Reg 50(2) intimation no later than the day notices start going out for the relevant meeting.
Stock exchange electronic filing system, in XBRL
If you miss it
No per-day exchange fine is asserted here, because this provision is not on the fine table we have verified. SEBI adjudicates a late or missed disclosure under section 15A(b) of the SEBI Act, which reaches ₹1 lakh for each day the failure continues and is capped at ₹1 crore. Section 23E of the Securities Contracts (Regulation) Act is the other head, at not less than ₹5 lakh and up to ₹25 crore for a breach of listing conditions. Orders in this area normally land in lakhs rather than near the ceiling.
- The exchange records the default in the entity's compliance history, and a repeated default feeds SEBI's decision to adjudicate
- The disclosure still has to be made after the deadline passes, and it has to carry an explanation for the delay
- Disclosing favourable events on time while letting unfavourable ones slip is charged as a breach of Reg 4(1)(d) in its own right, alongside the specific provision
Recent changes affecting this
Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper
Master Circular for listing obligations and disclosure requirements for Non-convertible Securities, Securitized Debt Instruments and/ or Commercial Paper
Common questions
Does this intimation go to the debenture trustee?
No. Reg 50 is prior intimation to the stock exchange. Debenture-trustee disclosure sits elsewhere, in Reg 56 and in the provisos to Reg 52(4) and 52(5).
How many working days?
Two, excluding the intimation date and the meeting date, the same as Reg 29 for an equity-listed entity.