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of <h1>Meeting must comply with Trust Deed terms; Alignment with prior deeds essential. Deadline: 30 days.</h1> The High Court of Bombay held that the meeting must adhere to the terms of the Debenture Trust Deed and that the Supplementary Trust Deed should align ... SEBI circular applicability - Clarification seeked in directions that the meeting that is to be held should be in deviation from the terms of the Debenture Trust Deed - Scope of submissions on the basis of any later or Supplementary Trust Deed - HELD THAT:- Obviously, the Supplementary Trust Deed will have to be read with the previous three Trust Deeds in a coherent and consistent manner. A mere reference to SEBI circulars will not and cannot override the express terms of any of the Trust Deeds. The 30 day period will commence from today in view of this clarification. The High Court of Bombay clarified that the meeting should not deviate from the terms of the Debenture Trust Deed. The Supplementary Trust Deed must be read consistently with the previous Trust Deeds. The 30-day period for compliance starts from the date of the clarification. All parties must act upon receipt of a digitally signed copy of the order.
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