The Securities and Exchange Board of India (SEBI) on July 06, 2023, issued a notification regarding the Mater Circular for Debenture Trustees.
The following has been stated namely: -
• It states that A single operational circular has been prepared by consolidating all applicable circulars to remove inconsistencies and repetitions through consequent changes.
• It states that the stipulations contained in such circulars have been detailed chapter-wise in this Mater circular.
• The circulars listed in Part-A of Annex-1 stand superseded by this Mater circular. Further, the applicability of provisions of the circulars listed in Part-B of Annex-1, to the extent they pertain to Debenture Trustees, has been rescinded.
• The Debenture Trustees are directed to comply with the conditions laid down in this Mater circular
• It is reiterated that Debenture Trustees shall have the necessary systems and infrastructure to implement this circular.
• This Circular is available on the SEBI website at www.sebi.gov.in under “Legal Framework”.
The provisions of the Operational Circular shall come into force with effect from April 01, 2023.
[Notification No. SEBI/HO/DDHS-PoD1/P/CIR/2023/109]
