Can a debenture trustee be removed from office before expiry of term ? How will casual vacancy in the office of trustee be filled up? Referring to the provisions of the Companies Act, 2013 comment.

In terms of rule 18(2)(d) of the Companies (Share Capital and Debenture) Rules, 2014, the Board may fill any casual vacancy in the office of the trustee but while any such vacancy continues, the remaining trustee or trustees, if any, may act: Provided that where such vacancy is caused by the resignation of the debenture trustee, the vacancy shall only be filled with the written consent of the majority of the debenture holders. Yes. A debenture trustee can be removed from office before expiry of term. Rule 18(2)(e) states any debenture trustee may be removed from office before the expiry of his term only if it is approved by the holders of not less than three fourth in value of the debentures outstanding, at their meeting.