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Legal Help| Duties and Responsibility of Penalties Imposed on Default by Debenture Trustee
What penalties can be imposed on Default by Debenture Trustee? What are his duties and responsibility? A Debenture Trustee: Contravenes any of the provisions of SEBI Act, 1992; SEBI (Debenture Trustees) Regulations, 1993; or Contravenes the provisions of Companies Act, 1956 and the rules made there under, Shall be Read More →
Legal Help | SEBI Inspect Books of Accounts, Records and Documents of a Debenture Trustee
Can SEBI inspect books of accounts, records and documents of a Debenture Trustee? SEBI may appoint one or more persons as Inspecting Authority to inspect the books of accounts records and documents of a Debenture Trustee. The inspection can be carried out for any of the following purposes: To ensure that Read More →
Legal Help | Debenture Trustee Procedure and Registration
Who is Debenture Trustee & what is the procedure for its registration? Debenture Trustee means a trustee of a Trust Deed for securing any issue of debentures of a body corporate. It may be noted that only the following persons can do the work of debenture trustee: Scheduled bank carrying Read More →
Duties and Rights of Trustee
Q. What is the Duties and Rights of Trustee ? Trustee is not bound to accept the trust. However, once accepted, he can’t renounce it except with the prior permission of civil court or beneficiary, if he is a major or by virtue of special power in the instrument of trust. Read More →
Rights and Liabilities of Beneficiary
Q. What is the Rights and Liabilities of Beneficiary ? The Rights and Liabilities of Beneficiary seek protection of title to trust property. To take remedies for care of the trust property by trustee, as a man or ordinary prudence would take of his own property. To get impartial treatment from trustee. To take damages for wastage Read More →
Extinction & Revocation of Trust
Q. What do you understand by Extinction & Revocation of Trust? Extinction of Trust: In Section-77 a trust is extinguished when : The purpose is completely fulfilled; Its purpose becomes unlawful the fulfillment of its purpose becomes impossible because of destruction of the trust property or otherwise; The trust, being revocable, is expressly Read More →
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