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of <h1>SEBI Updates Guidelines for Debenture Trustees: New Rules on Security Creation, Due Diligence, and Compliance.</h1> The Securities and Exchange Board of India (SEBI) issued enhanced guidelines for debenture trustees and listed issuer companies regarding security creation and initial due diligence. The circular outlines revised requirements for changes in security, creation of additional security, and conversion of unsecured to secured debt for listed non-convertible securities. It mandates debenture trustees to conduct due diligence and issue no-objection certificates before security creation. Issuer companies must register created securities and execute amended debenture trust deeds. The circular also addresses encumbrances on securities, due diligence certificates for shelf prospectuses, and empanelment of external agencies by debenture trustees, ensuring compliance with SEBI's security and covenant monitoring system.
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