SEBI lays downs guidelines for due-diligence on debt securities
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The Securities and Exchange Board of India (Sebi) on Tuesday night laid down fresh set of norms for increasing diligence on debt securities.
Sebi prescribed enhanced disclosures in the trustee deed which would make it easier for debenture trustees to conduct due-diligence on encumbrances of underlying assets.
Sebi had first approved these new norms in its board meeting on 30 September. These rules strengthen the role of debenture trustees by empowering them to conduct an independent inspection of assets on which a charge is being created.
Debenture trustees represent the interest of bondholders and act as a liaison between them and the issuer company
Sebi prescribed enhanced disclosures in the trustee deed which would make it easier for debenture trustees to conduct due-diligence on encumbrances of underlying assets.
Sebi had first approved these new norms in its board meeting on 30 September. These rules strengthen the role of debenture trustees by empowering them to conduct an independent inspection of assets on which a charge is being created.
Debenture trustees represent the interest of bondholders and act as a liaison between them and the issuer company
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