Regulation 24 - Obligations of Debenture Trustee - Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021

Obligations of Debenture Trustee 24. (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 holders of such debt securities and in accordance with applicable law. (2) The debenture trustees shall supervise the implementation of the conditions regarding creation of security for the debt securities, creation of recovery expense fund and debenture redemption reserve, as applicable. (3) The debenture trustee shall monitor the security cover in relation to secured debt securities in the manner as specified by the Board.