What are the obligations of a Debenture Trustee of Non-Redeemable Preference Share under the SEBI (Issue and listing of Non-convertible Securities) Regulations, 2021?

Answer 4(e) Regulation 24 of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 deals with the Obligation of Debenture Trustee as under: The debenture trustee shall be vested with the requisite powers for protecting the interest of holders of NCRPS including a right to appoint a nominee director on the Board of the issuer in consultation with holders of such securities and in accordance with applicable law. The debenture trustees shall supervise the implementation of the conditions regarding creation of security for the securities, if secured. The debenture trustee shall monitor the payment of dividend as well as the security cover in relation to secured NCRPS in the manner as specified by the Board (if secured). The Debenture Trustee shall monitor disclosures made to shareholders by the company directly and on its website / websites of Stock Exchanges. The Debenture Trustee shall ensure that any change in terms of issuance of the NCRPS is communicated to the holders and the same is approved by them as per the requirements of the SEBI LODR Regulations.