Debenture Trustee not to act for an associate

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..... corporate; (ii) beneficially holds shares in the company; (iii) is a promoter, director or key managerial personnel or any other officer or an employee of the company or its holding, subsidiary or associate company; (iv) is beneficially entitled to moneys which are to be paid by the company otherwise than as remuneration payable to the debenture trustee; (v) is indebted to the company, or .....

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..... ever there is guarantee by the state / central government for the debentures issued.] (b) it has lent and the loan is not yet fully repaid or is proposing to lend money to the body corporate: Provided that this requirement shall not be applicable in respect of debentures issued prior to the commencement of the Companies (Amendment) Act, 2000, where- (i) recovery proceedings in respect of the .....

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..... e of the body corporate, or (b) it has lent or is proposing to lend money to the body corporate : Provided that in respect of debentures issued prior to the commencement of these regulations, the debenture trustee for such issue shall also comply with this regulation within two years from the commencement of these Regulations." 2 Regulation 13A and clause (a) thereunder substituted by the SEBI .....

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