Trustee registration criteria: fitness, infrastructure and compliance factors determine eligibility under SEBI securitisation rules. Registration of trustees for securitisation was subject to discretionary eligibility factors including the applicant's track record, professional competence and reputation; corporate objects and board composition for bodies corporate; adequacy of infrastructure to service transactions and ensure adherence by transaction parties; capacity of the applicant and related special purpose vehicle to comply with the regulations; any prior rejections of related applications; and whether the applicant, promoters and directors meet fit-and-proper criteria for regulated intermediaries.