Debenture
This query is : Resolved
21 July 2010
Hello Sir,
My query is-
Can a Debtor of a Company become a Debenture Trustee of that company?
My query is-
Can a Debtor of a Company become a Debenture Trustee of that company?
Ankur Garg
(Expert)
21 July 2010
Hi,
Keeping in view the intention of law under proviso to sub-section (1) of section 117B read with section 117B(2), a debtor can not be appointed as debenture trustee.
Views of other experts solicited.
Regards
Keeping in view the intention of law under proviso to sub-section (1) of section 117B read with section 117B(2), a debtor can not be appointed as debenture trustee.
Views of other experts solicited.
Regards
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Jagruti (CS)
(Expert)
21 July 2010
Yes, agreed with Mr. Ankur that any person entitled to money which are to be paid by the Company to the debenture trustee cannot be appointed as debenture trustee
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22 July 2010
In my view there is no such limitation under law.
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