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of <h1>Section 30B of Securities Act Enables Pooled Investment Vehicles to Borrow and Issue Debt, Overrides Conflicting Laws</h1> Section 30B of the Securities Contracts (Regulation) Act, 1956, as amended by the Finance Act, 2021, allows pooled investment vehicles registered with the Securities and Exchange Board of India to borrow and issue debt securities. These vehicles can provide security interests to lenders according to their trust deeds and facility documents. In case of default, lenders can recover amounts and enforce security interests against trust assets without personal liability on trustees. Remaining trust assets after recovery are distributed proportionately to unit holders. This provision overrides conflicting laws, including the Indian Trust Act, 1882.
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