When is a debenture trustee appointed?

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A debenture trustee is appointed before issuing a prospectus and offering the debentures to the public for subscription. As per the companies act, it is mandatory to appoint a debenture trustee for every issue where the debentures/bonds are beyond 18 months of maturity. For debentures/bonds with a maturity of 18 months and less, are exempted from the requirement of debenture trustee appointment.