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The SEBI Board, in its meeting on September 28, 2020,approved changes to the regulatory framework relating to debenture trustees(DTs), enhancing their role. Resultant amendments were made in SEBI (Debenture Trustees) Regulations, 1993, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015and erstwhile SEBI (Issue and Listing of Debt Securities) Regulations, 20081, pursuant to which circular on the creation of security and due diligence by DTs was issued. Since the issue of the circular, SEBI has received feedback from market participants on the aspects of due diligence and security creation. On the basis of such feedback, it has been decided that certain aspects of the said circular be tweaked. Accordingly, the present circular laying down revised requirements relating to encumbrance, creation of security and related due diligence by DTs
