TaxTMI 
TaxTMI 
Contribution by Issuers of listed or proposed to be listed debt securities towards creation of “Recovery Expense Fund”
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....ed Stock Exchanges All Debenture Trustees registered with SEBI Dear Sir/ Madam, Sub: Contribution by Issuers of listed or proposed to be listed debt securities towards creation of "Recovery Expense Fund" 1. In order to enable the Debenture Trustee(s) to take prompt action for enforcement of security in case of 'default' in listed debt securities, a 'Recovery Expense Fund' (REF) shall b....
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.... with a Scheduled commercial bank or gilt fund or debt mutual funds or debt Exchange Trade Funds and the income/interest earned thereof shall be added to the REF of the issuer. c. The issuer shall ensure that the Bank Guarantee remains valid for a period of 6 months post the maturity date of the listed debt security. The issuer shall keep the bank guarantee in force and renew the Bank Guarantee....
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....Debenture Trustee/ Lead Debenture Trustee within 5 working days of receipt of such intimation. For the purpose of this Circular, Lead Debenture Trustee shall mean: a. A Debenture Trustee who has been chosen to be the Lead Debenture Trustee by other Debenture Trustees or b. A Debenture Trustee who is the Debenture Trustee of more than 50% of the outstanding value of debt securities. 6. ....
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....1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 2A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 and Regulation 31(1) of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 to protect the interest of investors in securities and to promote the development of, and ....