Duties of Debenture Trustee

To take possession of trust property to enclosing securities.

To perform acts necessary in the event of security becoming enforceable resolving grievances of debenture holders.

To ensure dispatch of debenture certificate.

To ensure dispatch of interest warrants.

To ensure repayment of maturity value of the debentures.

To ensure availability of property charged to the debentures an adequate enough to discharge the interest and principal amount.

To ensure that the property is free from any other encumbrance.

To take steps to protect the interest of debenture holders in case of any breach of the trustee deed law comes to its notice.

To ensure the conversion/redemption is done as per the provisions under which they were offered to the debenture holders.

To nominate a director on the Board of directors of the body corporate in the event of default in payment of interest in two consecutive times, default in creation of security for debentures and default in redemption of debentures.

To arrange for the meeting of all debenture holders in the event of

Request from at least 10% (in value) of debenture holders.

To continue as debenture trustee until another trustee is appointed (i.e., trustee should not relinquish its assignment).

To maintain net worth requirements

To inspect books of accounts records registers of the body corporate and the trust property.