Rights of investors in securities issued by special purpose distinct entity

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..... sing the terms of issue of the securitised debt instruments issued by a special purpose distinct entity shall provide that investors holding such securitised debt instruments have such beneficial interest in the underlying debt or receivables as may have been conferred by the scheme. (2) In the event of failure of the special purpose distinct entity to redeem any securitised debt instruments of .....

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..... apply to such special resolution: Provided further that the new trustee appointed under clause (c) is registered with the Board under these regulations or is exempted from such registration. (4) The trustee and the special purpose distinct entity shall take all reasonable steps to carry out the resolutions passed by the investors under sub-regulation (3). (5) Any reasonable expenses incur .....

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