SEBI tweaks norms relating to duties of ‘Debenture Trustee’ to protect the interest of stakeholders
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- By Taxmann
- Last Updated on 13 April, 2022
Notification No. SEBI/LAD-NRO/GN/2022/78, Dated: 11.04.2022
In order to protect the interest of the stakeholders, SEBI has amended the provisions w.r.t the duties of the debenture trustees. The amended norms mandate debenture trustees to carry out necessary due diligence on a quarterly basis and to obtain a half-yearly certificate from the statutory auditor if the debt securities are secured. Under the extant norms, these requirements were applicable only when the debt securities are secured by way of receivables/ book debts.
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