Nominee director appointment: issuers must designate a non executive or independent director as trustee nominee when nomination events occur. SEBI mandates that issuers unable to amend their principal charter to appoint trustee-nominated directors must give an undertaking to debenture trustees that, if events under Regulation 15(1)(e) arise, a non-executive or independent director or member of the governing body will be designated as the nominee director in consultation with the debenture trustee(s). Debenture trustees must ensure and monitor compliance; the circular is effective immediately and will be incorporated into relevant operational circulars.
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.
Nominee director appointment: issuers must designate a non executive or independent director as trustee nominee when nomination events occur.
SEBI mandates that issuers unable to amend their principal charter to appoint trustee-nominated directors must give an undertaking to debenture trustees that, if events under Regulation 15(1)(e) arise, a non-executive or independent director or member of the governing body will be designated as the nominee director in consultation with the debenture trustee(s). Debenture trustees must ensure and monitor compliance; the circular is effective immediately and will be incorporated into relevant operational circulars.
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