Debenture trust deed requirements mandate prescribed form, execution period and inspection rights; noncompliance triggers daily fines. A trust deed for securing any issue of debentures must be in the prescribed form and executed within the prescribed period. Any member or debenture holder is entitled to inspect the trust deed and obtain copies on payment of a prescribed sum. If the trust deed is not made available for inspection or copies are not furnished, the company and every officer in default are liable to a daily monetary penalty for each day the offence continues.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Debenture trust deed requirements mandate prescribed form, execution period and inspection rights; noncompliance triggers daily fines.
A trust deed for securing any issue of debentures must be in the prescribed form and executed within the prescribed period. Any member or debenture holder is entitled to inspect the trust deed and obtain copies on payment of a prescribed sum. If the trust deed is not made available for inspection or copies are not furnished, the company and every officer in default are liable to a daily monetary penalty for each day the offence continues.
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