SEBI vide its Circular dated 31st March 2023 issued to All Registered Debenture Trustees, All Registered Credit Rating Agencies, Issuers who have listed and/or propose to list Debt Securities and Municipal Debt Securities Recognized Stock Exchanges, Recognized Depositories.
The Circular states:
Debenture Trustees are regulated by the DT Regulations, but procedural/disclosure requirements and obligations have been specified by SEBI through circulars. A single operational circular has been prepared to remove inconsistencies and repetitions.
This operational circular supersedes the circulars listed at Annex – 1 in detail.
This operational circular uses the terms “Issuer” and “Listed Entity” interchangeably, making it easier to reference.
Debenture Trustees must comply with the conditions of this circular and have the necessary systems and infrastructure in place, and the Board of Directors is responsible for ensuring compliance.
Link of the circular: https://www.sebi.gov.in/legal/circulars/mar-2023/operational-circular-for-debenture-trustees_69684.html
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