Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2025 - SEBI/LAD-NRO/GN/2025/268 - SEBI
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Trust deed format requirement updated; trustee may accept deviations if issuer provides a key summary with rationale. The amendment requires the trust deed to be executed 'in such format' and allows the debenture trustee to accept deviations from the specified format if the issuer provides a key summary sheet capturing the deviations and the rationale in the General Information Document, Key Information Document, or Shelf Prospectus. It also omits the earlier requirement that the trust deed consist of two parts separating statutory standard information and issue specific details.
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.
Trust deed format requirement updated; trustee may accept deviations if issuer provides a key summary with rationale.
The amendment requires the trust deed to be executed "in such format" and allows the debenture trustee to accept deviations from the specified format if the issuer provides a key summary sheet capturing the deviations and the rationale in the General Information Document, Key Information Document, or Shelf Prospectus. It also omits the earlier requirement that the trust deed consist of two parts separating statutory standard information and issue specific details.
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