Explain the persons who are qualified to act as debenture trustees for a series of non-convertible unsecured debentures proposed to be issued by Company going to be listed under SEBI (Issue and Listing of Debt Securities

As per the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, an issuer is required to appoint one or more debenture trustees in accordance with the provisions of Section 71 of the Companies Act, 2013 (corresponding to Section 117B of the Companies Act, 1956) and the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993. For debt securities proposed to be listed as per Regulation 7 of SEBI (Debenture Trustee) Regulations, 1993, only the following persons are entitled to act as a debenture trustee: Scheduled Bank: A scheduled bank carrying on commercial activity. Public Financial Institution: A public financial institution within the meaning of Section 2(72) of the Companies Act, 2013 (corresponding to Section 4A of the Companies Act, 1956). Insurance Company: An insurance company. Body Corporate: Any other body corporate. Note: The term 'public financial institution' has been widened under Section 2(72) of the Companies Act, 2013. The corresponding regulations in the SEBI (Debenture Trustee) Regulations, 1993, are yet to be modified to reflect this updated definition.