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of <h1>SEBI Circular: Debenture Trustees Must Independently Monitor Compliance and Report on Listed Debt Securities by Dec 31, 2020.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines the monitoring and disclosure obligations of debenture trustees concerning listed debt securities. It mandates trustees to independently assess compliance with security covenants and terms, requiring periodic monitoring and reporting. Trustees must submit various certificates and reports, such as asset cover and net worth certificates, to stock exchanges within specified timelines. In case of covenant breaches, trustees are to follow outlined steps and disclose relevant information on their websites. The circular also updates reporting formats and rescinds previous guidelines, effective from the quarter ending December 31, 2020.
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