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CHAPTER III RESPONSIBILITIES AND OBLIGATIONS OFDEBENTURE TRUSTEES Obligation before appointment as debenture trustees (ii) the time limit within which the security for the debentures shall be created.] 4 13A. No debenture trustee shall act as such for any issue of debentures in case-
14. Every debenture trustee shall amongst other matters accept the trust deed which contain the matters specified in Schedule IV to the regulations. Duties of the debenture trustees 15. (1) It shall be the duty of every debenture trustee to - (a) call for periodical reports from the body corporate; (d) enforce security in the interest of the debenture holders; (e) do such acts as are necessary in the event the security becomes enforceable; provisions of the Companies Act; (iii) interest warrants for interest due on the debentures have been despatched to the debenture holders on or before the due dates; (iv) debenture holders have been paid the monies due to them on the date of redemption of the debentures; (i) exercise due diligence to ensure compliance by the body corporate, with the provisions of the Companies Act, the listing agreement of the stock-exchange or the trust deed; (j) to take appropriate measures for protecting the interest of the debenture holders as soon as any breach of the trust deed or law comes to his notice;
16. Every debenture trustee shall abide by the Code of Conduct as specified in Schedule III. Maintenance of books of accounts, records, documents etc. (2) Every debenture trustee shall intimate to the Board, the place where the books of accounts, records and documents are maintained. (b) copies of the trust deed; (e) any other particular or document which is relevant to debenture trustee. (b) consent under clause (a) is given before the issue of debentures for subscription. 6 Earlier sub-clause which read as below has been substituted vide SEBI (Debenture Trustees) (Second Amendment) Regulations, 2000 notified in the Gazette of India dated August 8, 2000, S.O.743(E):- " (i). refund monies due to the applicants applying for the debentures have been paid in accordance with the Companies Act and the listing agreement of the stock exchange on which the debentures of the company are listed. " 7Inserted vide SEBI (Debenture Trustees) (Second Amendment) Regulations, 2000 notified in the Gazette of India dated August 8, 2000, S.O.743(E) | |
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