Appointment of trustee in mutual fund lite requires independence, adequate infrastructure and fit-and-proper status for proper discharge of duties. Regulation 61 requires that trustees of mutual fund lite schemes be independent entities, may be debenture trustees for multiple schemes, must satisfy the ... Summary
Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993
Appointment of trustee in mutual fund lite requires independence, adequate infrastructure and fit-and-proper status for proper discharge of duties.
Regulation 61 requires that trustees of mutual fund lite schemes be independent entities, may be debenture trustees for multiple schemes, must satisfy the fit and proper criteria under the Debenture Trustees Regulations, 1993, and possess satisfactory infrastructure, personnel and systems for proper discharge of their duties.
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