Master Circular for Debenture Trustees (DTs)

Debenture trustee obligations: mandatory monitoring, disclosure and reporting duties ensure prompt public and regulator notification of issuer defaults.

Consolidates SEBI circulars into a regulatory framework requiring Debenture Trustees to register and report via the SEBI Intermediary Portal, maintain designated regulatory and grievance email IDs, monitor issuer payment status and disclose defaults and rating changes promptly, share prescribed information with Credit Rating Agencies, update a centralized bonds database, submit half-yearly compliance and default reports to SEBI, integrate with the SCORES grievance platform, restrict outsourcing of core and compliance functions while retaining liability, and adopt internal controls and conflict-of-interest policies to protect investor interests.