Write short notes on the following: (a) Obligations of debenture trustees under Issue and listing of Non-convertible securities

Obligations of debenture trustees under Regulation 24 of the SEBI (Issue and Listing of Non-convertible Securities) Regulations, 2021 are as under: (a) The debenture trustee shall be vested with the requisite powers for protecting the interest of holders of debt securities including a right to appoint a nominee director on the Board of the issuer in consultation with holders of such debt securities and in accordance with applicable law. (b) The debenture trustees shall supervise the implementation of the conditions regarding creation of security for the debt securities, creation of recovery expense fund and debenture redemption reserve, as applicable. (c) The debenture trustee shall monitor the security cover in relation to secured debt securities in the manner as specified by the Board.