Security creation and due diligence: debenture trustees must issue NOC after prescribed due diligence before charge registration. Debenture trustees and issuers must amend the debenture trust deed before due diligence; the DT shall perform initial due diligence per prescribed formats and issue a no-objection certificate (NOC) permitting security creation. The issuer must create the security, execute the charge in favour of the DT and register the charge with applicable registries within thirty days; thereafter the issuer and DT shall execute a supplemental debenture trust deed and submit the NOC, executed deed, DT undertaking of creation and registration, and other required documents to depositories and stock exchanges for ISIN reassignment.
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Provisions expressly mentioned in the judgment/order text.
Security creation and due diligence: debenture trustees must issue NOC after prescribed due diligence before charge registration.
Debenture trustees and issuers must amend the debenture trust deed before due diligence; the DT shall perform initial due diligence per prescribed formats and issue a no-objection certificate (NOC) permitting security creation. The issuer must create the security, execute the charge in favour of the DT and register the charge with applicable registries within thirty days; thereafter the issuer and DT shall execute a supplemental debenture trust deed and submit the NOC, executed deed, DT undertaking of creation and registration, and other required documents to depositories and stock exchanges for ISIN reassignment.
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