Fit and proper person requirement for debenture trustees introduced, making suitability a statutory condition upon Gazette notification. The amendment inserts a new clause requiring debenture trustees to be fit and proper persons, thereby adding an explicit eligibility condition to the Securities and Exchange Board of India (Debenture Trustees) Regulations; the change is made by notification under the Board's rule-making power and takes effect on publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Fit and proper person requirement for debenture trustees introduced, making suitability a statutory condition upon Gazette notification.
The amendment inserts a new clause requiring debenture trustees to be fit and proper persons, thereby adding an explicit eligibility condition to the Securities and Exchange Board of India (Debenture Trustees) Regulations; the change is made by notification under the Board's rule-making power and takes effect on publication in the Official Gazette.
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