Creation of Security: trustees must verify and certify security creation and due diligence before listing of debt securities. Issuers must provide detailed documents and consents at the time of entering into the debenture trustee agreement, including title deeds, registration evidence, consents/NOCs from existing charge holders, guarantee documentation and depository pledging undertakings. Debenture trustees shall independently perform due diligence-verifying registrations, conditional consents, guarantor financials, and commissioning valuation, title and ROC searches-and issue prescribed due diligence certificates at draft filing and prior to listing. Charges must be created, debenture trust deeds executed, and charges registered with relevant registries within the stipulated period; listing is conditional on receipt of the trustee's listing-stage due diligence certificate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Creation of Security: trustees must verify and certify security creation and due diligence before listing of debt securities.
Issuers must provide detailed documents and consents at the time of entering into the debenture trustee agreement, including title deeds, registration evidence, consents/NOCs from existing charge holders, guarantee documentation and depository pledging undertakings. Debenture trustees shall independently perform due diligence-verifying registrations, conditional consents, guarantor financials, and commissioning valuation, title and ROC searches-and issue prescribed due diligence certificates at draft filing and prior to listing. Charges must be created, debenture trust deeds executed, and charges registered with relevant registries within the stipulated period; listing is conditional on receipt of the trustee's listing-stage due diligence certificate.
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