9911796707
TMI BlogAmendments to the SEBI (Disclosure and Investor Protection Guidelines), 2000.X X X X Extracts X X X X X X X X Extracts X X X X ..... RS/DEBENTURE TRUSTEES Amendments to the SEBI (Disclosure and Investor Protection Guidelines), 2000. The captioned Guidelines came into effect from January 27, 2000. The Guidelines for issue of debt instruments are contained in Chapter X thereof. SEBI had constituted a working group of Debenture Trustees which made certain suggestions to improve the effectiveness of the trustees. SEBI has conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... title of Clause 10.6 words "Disclosure and" before the words "Creation of Charge" shall be added. 2. Before the existing clause 10.6.1, a new clause shall be added :- "10.6.1 - The offer document shall specifically state the assets on which security shall be created and shall also state the ranking of the charge/s. In case of second or residual charge or subordinated ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t charge." 4. The existing clause 10.6.1 shall be numbered as 10.6.3. 5. After existing clause 10.6.3, a new sub-clause 10.6.4 shall be added : " 10.6.4 - The issue proceeds shall be kept in an escrow account until the documents for creation of security as stated in the offer document, are executed." The other sub-clauses under clause 10.6 shall be renumbered accordingly. 6. E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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