Appointment of debenture trustees and duties of debenture trustees.

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..... issue, appointed one or more debenture trustees for such debentures and the company has, on the face of the prospectus or the letter of offer, stated that the debenture trustee or trustees have given their consent to the company to be so appointed: Provided that no person shall be appointed as a debenture trustee, if he ___ (a) beneficially holds shares in the company; (b) is .....

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..... ipal amount at all times; (b) to satisfy himself that the prospectus or the letter of offer does not contain any matter which is inconsistent with the terms of the debentures or with the trust deed; (c) to ensure that the company does not commit any breach of covenants and provisions of the trust deed; (d) to take such reasonable steps to remedy any breach of the covenants of .....

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..... revival and rehabilitation of a sick industrial company under Part VIA, the provisions of this section shall have effect as if for the words "Central Government", the word "Tribunal" had been substituted.] --------------------------------- Notes:- [1] Petition to be made in Form 1 of the Company Law Board Regulations, 1991. Fees prescribed is Rs. 1,000. On notificati .....

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