Pooled investment vehicle borrowing permitted under SEBI rules; lenders may enforce security against trust assets without trustee personal liability. Section 30B permits a SEBI-registered pooled investment vehicle to borrow and issue debt securities as prescribed by SEBI, allows the vehicle-subject to the trust deed-to grant security interests to lenders, and authorises lenders, on default, to recover amounts and enforce those security interests by proceedings against the trustee acting for the vehicle; the trustee is not personally liable and remaining trust assets after recovery must be remitted proportionately to unit holders.
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.
Pooled investment vehicle borrowing permitted under SEBI rules; lenders may enforce security against trust assets without trustee personal liability.
Section 30B permits a SEBI-registered pooled investment vehicle to borrow and issue debt securities as prescribed by SEBI, allows the vehicle-subject to the trust deed-to grant security interests to lenders, and authorises lenders, on default, to recover amounts and enforce those security interests by proceedings against the trustee acting for the vehicle; the trustee is not personally liable and remaining trust assets after recovery must be remitted proportionately to unit holders.
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