Fee payment compliance: nonpayment permits suspension of registration and requires cessation of debenture trustee functions. Payment of registration fees is mandatory for every applicant eligible for grant of registration as a debenture trustee and must be made in the manner and within the period specified in Schedule II. The Board may permit late payment on sufficient cause shown within a prescribed outer period. Where the debenture trustee fails to pay the fees as required, the Board may suspend the certificate of registration and the debenture trustee must forthwith cease to act as such.
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.
Fee payment compliance: nonpayment permits suspension of registration and requires cessation of debenture trustee functions.
Payment of registration fees is mandatory for every applicant eligible for grant of registration as a debenture trustee and must be made in the manner and within the period specified in Schedule II. The Board may permit late payment on sufficient cause shown within a prescribed outer period. Where the debenture trustee fails to pay the fees as required, the Board may suspend the certificate of registration and the debenture trustee must forthwith cease to act as such.
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