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Important conditions of debenture trust deed?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked about 3 years ago

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Data?1494421738 samkit kothari answered about 3 years ago

> DEBENTURE TRUST DEED 1. DESCRIPTION OF DEBENTURE ISSUE: 2. DETAILS OF CHARGE CREATED (in case of secured debentures) 3. PARTICULARS OF THE APPOINTMENT OF DEBENTURE TRUSTEE(S) 4. EVENTS OF DEFAULTS 5. OBLIGATIONS OF COMPANY

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 3 years ago

IMPORTANT CONDITIONS OF DEBENTURE TRUST DEED important conditions of debenture trust deeds may be stated as follows: 1. The trust deed usually gives a legal mortgage on block capital and a floating security on the other assets of the company in favour of the trustee on behalf of the debenture holders. 2. The trust deed gives in detail the conditions under which the loan is advanced. 3. The trust deed should specify in some detail the remuneration payable to the trustee, their duties and responsibilities in relation to the trust property. Section 119 of the Companies Act, 1956 specifically provides that any provision contained in a trust deed for securing an issue of debentures, which has the effect of exempting a trustee or indemnifying him against any liability for breach of trust shall be void. 4. It also gives in detail rights of debenture holders to be exercised through the trustees in case of default by the company in payment of interest and principal as agreed upon. Thanks

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