SEBI vide its circular SEBI/HO/MIRSD/DOS3/CIR/P/2019/68 dated 27th May, 2019, in order to secure investor’s interest and enhance transparency, has issued following guidelines for amendment to existing regulatory framework for Debenture Trustees (DT):
- DTs shall disclose the nature of compensation arrangement with its clients on their websites
- DTs shall display on their website the ISIN wise details of interest/ redemption due to the debenture holders within 5 working days of start of financial year
- DTs shall also update the status of payment ISIN-wise against such issuers not later than 1 day from the due date
- RTA / Issuers shall henceforth forward the details of debenture holders to the DT at the time of allotment and thereafter by the seventh working day of every next month
- In privately placed issues, additional Covenants as to additional interest for delayed payment of interest/principal amount and for delayed listing of debt securities shall be included in Summary Term Sheet
For detailed content, refer the attached circular-
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