Who can be a debenture trustee?

Anyone who fulfils the below criteria can apply for debenture trustee registration with SEBI for their consideration:

• Has necessary infrastructure like adequate office space, equipment and manpower to effectively discharge his duties.
• Has in his employment minimum of two persons with experience relevant to debenture trustee and at least one person who possesses professional qualification in law
• Is a fit and proper person i.e. having financial integrity, competence, good reputation and character, efficiency and honesty and has no convictions, civil liabilities or any disqualifications to act as an intermediary.
• Fulfils the capital adequacy requirement of net worth not less than one crore rupees.
• The applicant should either be:
  1. A scheduled bank carrying on commercial activity;
  2. A public financial institution;
  3. An insurance company; or
  4. A body corporate.