Regulation 25 - Obligations of Debenture Trustee - Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008

CHAPTER V OBLIGATIONS OF INTERMEDIARIES AND ISSUERS Obligations of Debenture Trustee 25. (1) The debenture trustee shall be vested with the requisite powers for protecting the interest of holders of debt securities including a right to appoint a nominee director on the Board of the issuer in consultation with institutional holders of such securities. (2) The debenture trustee shall carry out its duties and perform its functions under these regulations, the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 , the trust deed and offer document, with due care, diligence and loyalty. (3) The debenture trustee shall ensure disclosure of all material events on an ongoing basis. (4) The debenture trustees shall supervise the implementation of the conditions regarding creation of security for the debt securities and debenture redemption reserve.