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<h1>Regulation 84 allows independent debenture trustees to serve multiple mutual fund lite schemes if they meet eligibility criteria.</h1> Regulation 84 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, addresses the appointment of trustees for mutual fund lite schemes. It permits a debenture trustee to serve as a trustee for multiple mutual fund lite schemes, provided it is independent and not affiliated with the sponsor or manager of the mutual fund lite asset management company. Additionally, a debenture trustee must meet the fit and proper criteria outlined in the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, to be eligible for appointment under this chapter.