Debenture

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Himanshu

Himanshu (Querist)
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21 July 2010 Hello Sir,
My query is-
Can a Debtor of a Company become a Debenture Trustee of that company?

Ankur Garg

Ankur Garg (Expert)
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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

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Jagruti (CS)

Jagruti (CS) (Expert)
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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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Rasesh

Rasesh (Expert)
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22 July 2010 In my view there is no such limitation under law.

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