SEBI's Master Circular for Debenture Trustees

Apr 13, 2018 | by Avantis RegTech Legal Research Team

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The Securities and Exchange Board of India (SEBI), vide a Master Circular dated April 9, 2018, has issued a compilation of the circulars/communications issued by SEBI for Debenture Trustees (DTs) up to March 31, 2018, in order to enable the users to have an access to all the applicable circulars/directions at one place.

The Master Circular is a compilation of all the existing/ applicable circulars issued by the Market Intermediaries Regulation and Supervision Department of SEBI to DTs.

The key provisions prescribed in the Master Circular are:

·         Terms of Registration: Online Registration Mechanism for DTs; Digital Mode of Payment; Grant of prior approval for change in control to DTs; Surrender of Certificate of Registration; and Designated e-mail ID for regulatory communication with SEBI;

·         Obligations, Disclosures and Reporting requirements: Contents of Trust Deed; Sharing of information regarding Issuer Companies between DTs and Credit Rating Agencies; Monitoring of Interest/ Principal repayment and sharing of such information with Credit Rating Agencies by DTs; Dissemination of Information on Debentures; Centralized Database for Corporate Bonds/ Debentures; and Periodic Reporting by the DTs;

·         Redressal of Investor Grievances: Exclusive e-mail ID for redressal of Investor Complaints; Redressal of investor grievances through SEBI Complaints Redress System (SCORES) platform; and Dissemination of Information regarding Grievance Redressal Mechanism;

·         Other Provisions: Guidelines on Outsourcing of Activities by DTs; Unauthenticated news circulated by SEBI registered market intermediaries through various modes of communication; General Guidelines for dealing with Conflicts of Interest of DTs and their Associated Persons in Securities Market.

The Master Circular has come into force from the date of its issue that is April 9, 2018.




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