Chapter IIIPUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES
Part APROVISIONS APPLICABLE TO PUBLIC ISSUE AND LISTING OF DEBT SECURITIES AND NON CONVERTIBLE REDEEMABLE PREFERENCE SHARES (From Regulation 25 to Regulation 38 )
Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 Chapter II GENERAL CONDITIONS AND ELIGIBILITY CRITERIA
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Trust deed requirements impose timely execution, trustee protections and issuer obligations, including interest penalties and director nomination. Regulation mandates execution of the trust deed in a Board-specified format and timeline, permits documented deviations disclosed to investors, and ... Summary
Trust deed requirements impose timely execution, trustee protections and issuer obligations, including interest penalties and director nomination.
Regulation mandates execution of the trust deed in a Board-specified format and timeline, permits documented deviations disclosed to investors, and imposes an interest penalty for issuer delay payable to debt security holders. The trust deed must include a clause reflecting the penalty, contain required statutory particulars, prohibit clauses that curtail trustee or holder rights or indemnify for negligence, include issuer bank details and trustee access to payment information, and require appointment of the person nominated by debenture trustees as a director.
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