Regulation 16 - Debenture Redemption Reserve - Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008

Debenture Redemption Reserve 16. (1) For the redemption of the debt securities issued by a company, the issuer shall create debenture redemption reserve in accordance with the provisions of the 1 [ Companies Act, 2013 . ] and circulars issued by Central Government in this regard. (2) Where the issuer has defaulted in payment of interest on debt securities or redemption thereof or in creation of security as per the terms of the issue of debt securities, any distribution of dividend shall require approval of the debenture trustees. ************ NOTES:- 1. Substituted vide Notification No. SEBI/ LAD-NRO/GN/2020/35 dated 08-10-2020 before it was read as Companies Act, 1956