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<h1>SEBI Requires Debenture Trustees to Safeguard Municipal Debt Securities Holders, Including Board Representation under Companies Act 2013</h1> The Securities and Exchange Board of India (SEBI) mandates that a debenture trustee must possess necessary powers to protect the interests of municipal debt securities holders. If the issuer is a corporate body under the Companies Act, 2013, the trustee can appoint a nominee director on the issuer's board with institutional holders' consultation. The trustee must perform duties with care, monitor escrow accounts, ensure ongoing disclosure of material events, and supervise regulatory obligations. These responsibilities are governed by SEBI regulations, the trust deed, and relevant offer documents.