https://www.taxtmi.com/highlights?id=94579 The circular modifies Chapter IV of the Master Circular for Debenture Trustees to clarify the creation and use of the Recovery Expense Fund (REF) for enforcement and legal proceedings upon default in listed debt securities. It specifies that debenture trustees, including a defined Lead Debenture Trustee, may be reimbursed from REF for activities such as obtaining consents, conducting voting and meetings, filing court applications, legal fees, and asset recovery services. Prior debenture holder approval is not required for uses expressly listed; other uses need prior consent. The designated stock exchange must verify expenses, release funds within five working days, and remaining Chapter IV provisions remain unchanged, effective immediately. en-us Thu, 27 Nov 2025 10:36:55 +0530 Thu, 27 Nov 2025 10:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94579 The circular modifies Chapter IV of the Master Circular for Debenture Trustees to clarify the creation and use of the Recovery Expense Fund (REF) for enforcement and legal proceedings upon default in listed debt securities. It specifies that debenture trustees, including a defined Lead Debenture Trustee, may be reimbursed from REF for activities such as obtaining consents, conducting voting and meetings, filing court applications, legal fees, and asset recovery services. Prior debenture holder approval is not required for uses expressly listed; other uses need prior consent. The designated stock exchange must verify expenses, release funds within five working days, and remaining Chapter IV provisions remain unchanged, effective immediately. Highlights SEBI Thu, 27 Nov 2025 10:36:55 +0530 https://www.taxtmi.com/highlights?id=94579