Debenture trustees must perform prescribed due diligence, register charges, and use a depository monitoring system for securities. SEBI consolidates operational requirements for Debenture Trustees effective April 1, 2023: mandatory online registration and designated regulatory communications; detailed due diligence and documentation obligations at appointment and security creation; requirement to verify and register charges within 30 days; issuance of prescribed due-diligence certificates; mandatory use of a depository-hosted Security and Covenant Monitoring System with unique Asset IDs for recording assets, covenants, charge registration, payment status and credit ratings; ongoing monitoring, disclosures, Recovery Expense Fund operation, investor grievance integration with SCORES, and half-yearly compliance reporting to SEBI.
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Provisions expressly mentioned in the judgment/order text.
Debenture trustees must perform prescribed due diligence, register charges, and use a depository monitoring system for securities.
SEBI consolidates operational requirements for Debenture Trustees effective April 1, 2023: mandatory online registration and designated regulatory communications; detailed due diligence and documentation obligations at appointment and security creation; requirement to verify and register charges within 30 days; issuance of prescribed due-diligence certificates; mandatory use of a depository-hosted Security and Covenant Monitoring System with unique Asset IDs for recording assets, covenants, charge registration, payment status and credit ratings; ongoing monitoring, disclosures, Recovery Expense Fund operation, investor grievance integration with SCORES, and half-yearly compliance reporting to SEBI.
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