Board nomination rights: proviso allows unitholders to nominate despite lender nomination rights under debenture trustees clause. The Master Circular's restriction barring a unitholder from nominating a Unitholder Nominee Director when the same entity (or its associate) has director nomination rights as shareholder or lender is amended by a proviso: that restriction will not apply where the right to appoint a nominee director is available in terms of clause (e) of sub regulation (1) of regulation 15 of the Debenture Trustees regulation, permitting such unitholder nomination in those specified cases.
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.
Board nomination rights: proviso allows unitholders to nominate despite lender nomination rights under debenture trustees clause.
The Master Circular's restriction barring a unitholder from nominating a Unitholder Nominee Director when the same entity (or its associate) has director nomination rights as shareholder or lender is amended by a proviso: that restriction will not apply where the right to appoint a nominee director is available in terms of clause (e) of sub regulation (1) of regulation 15 of the Debenture Trustees regulation, permitting such unitholder nomination in those specified cases.
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