Debenture trustee duties: monitor issuer compliance and security creation, notify holders and act on defaults to protect investor interests. Regulation 15 mandates that debenture trustees perform continuous due diligence and monitoring of issuers to ensure offer documents, trust deed covenants and security creation are consistent and not prejudicial to debenture holders; obtain periodic reports and auditor certificates; promptly notify holders and the Board of defaults or breaches and take remedial measures including convening meetings and appointing nominee directors; ensure dispatch/demat of certificates and timely payments; enforce and take possession of security when required; maintain specified net worth and follow Board-prescribed procedures for charges and inter-creditor agreements.
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 duties: monitor issuer compliance and security creation, notify holders and act on defaults to protect investor interests.
Regulation 15 mandates that debenture trustees perform continuous due diligence and monitoring of issuers to ensure offer documents, trust deed covenants and security creation are consistent and not prejudicial to debenture holders; obtain periodic reports and auditor certificates; promptly notify holders and the Board of defaults or breaches and take remedial measures including convening meetings and appointing nominee directors; ensure dispatch/demat of certificates and timely payments; enforce and take possession of security when required; maintain specified net worth and follow Board-prescribed procedures for charges and inter-creditor agreements.
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