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<h1>Related party transactions by high value debt issuers require debenture trustee and debenture holder no objection before shareholder approval.</h1> Regulation 62K requires HVDLEs to obtain a prior No Objection Certificate from the Debenture Trustee for all material related party transactions and material modifications; the Debenture Trustee must in turn obtain NOC from non related debenture holders holding more than fifty percent by value via voting including e voting. After debenture holder approval, shareholder approval by resolution is required; if the Debenture Trustee withholds NOC the matter cannot proceed. The regulation applies to transactions on or after April 1, 2025, with specified exemptions and disclosure obligations to stock exchanges and on the HVDLE's website.