SEBI declares Zero coupon, zero principal bond as securities

The Central Government has declared “zero coupon zero principal instruments” as securities for the purposes of the Securities Contracts (Regulation) Act, 1956.
Note: “zero coupon zero principal instrument” means an instrument issued by a Not for Profit Organisation which shall be registered with Social Stock Exchange segment of a recognised Stock Exchange in accordance with the regulations made by the Securities and Exchange Board of India.

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