Debenture trustee appointment requirements: written agreement, compliance undertakings and a specified security-creation timeline before subscription opens. A debenture trustee must enter into a written agreement with the body corporate before the opening of the subscription list for each debenture issue; the agreement must contain an undertaking by the body corporate to comply with applicable statutory and regulatory provisions in respect of allotment and until redemption, and must specify the time limit within which the security for the debentures will be created or the agreement executed in accordance with applicable company law or regulatory prescriptions.
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 trustee appointment requirements: written agreement, compliance undertakings and a specified security-creation timeline before subscription opens.
A debenture trustee must enter into a written agreement with the body corporate before the opening of the subscription list for each debenture issue; the agreement must contain an undertaking by the body corporate to comply with applicable statutory and regulatory provisions in respect of allotment and until redemption, and must specify the time limit within which the security for the debentures will be created or the agreement executed in accordance with applicable company law or regulatory prescriptions.
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