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Who can become a debenture trustee?

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Anyone who fulfils the below criteria can apply to become debenture trustee 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

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