The Securities and Exchange Board of India (SEBI) on May 07, 2019, has published the Securities and Exchange Board of India (Debenture Trustees) (Amendment) Regulations, 2019 to further amend the SEBI (Debenture Trustees) Regulations, 1993. It will come into force on the date of its publication in the Official Gazette that is on May 07, 2019.
The amendments made in the SEBI (Debenture Trustees) Regulations, 1993 are:
In Regulation 7A, a proviso has been inserted, stating that a debenture trustee holding certificate of registration as on the date of commencement of the SEBI (Debenture Trustees) (Amendment) Regulations, 2019 shall fulfil the net worth requirements within three years from the date of such commencement.
In Regulation 15(2), after clause (b), a proviso has been inserted, stating that a debenture trustee may seek the consent of debenture holders through e-voting, wherever applicable, provided that the requirement to convene a meeting of all debenture holders in case of a default in payment obligation by the issuer, shall not be applicable in case of debentures issued by way of public issue.
[Notification No. SEBI/LAD-NRO/GN/2019/14]