CIRCULAR
HO/(201)2026-DDHS-POD1/I/24467/2026
October27, 2026
To,
All Registered Debenture Trustees,
Recognized Stock Exchanges
Dear Sir/ Madam,
Sub: Extension of timeline for compliance withterms and conditions byDebenture Trustees (DTs) for carrying out activities outside the purview of SEBI
1.On October 27, 2025, amendments to the SEBI (Debenture Trustees) Regulations, 1993 (“DT Regulations”) were notified, inter alia,introducing Regulation 9C to provide clarity on the scope of permittedactivities for debenture trustees. The provision,inter-alia,stipulates that a debenture trustee holding a valid certificate of registration may transfer its activitiesthat are not regulated by SEBIto separate business unit(s) within a period of six months from the date of notification of the SEBI (Debenture Trustees) (Amendment) Regulations, 2025 in the Official Gazette, or within such extended period as maybe specified by the Board.
2.The operational framework, including the terms and conditions governing activities undertaken by debenture trustees, was specifiedvide SEBI circular HO/17/11/12(3)2025-DDHS-POD1/ I/146/2025dated November 25, 2025.Based on representations received from the industry highlighting operational challenges in establishing the necessary systems and processes for effective implementation,vide SEBI Circular dated April 28, 2026,DTs weregrantedan additional six months (i.e. up toOctober 27, 2026) for compliancewith the aforesaid provisions.
3.Subsequently, during June 2026,SEBI has constituted an Expert Working group (“EWG”) to review the extant regulatory framework applicable for debenture trusteeship activities and examine other incidental matters.
CAclubindia
Source : https://www.sebi.gov.in/legal/circulars/oct-2026/extension-of-timeline-for-compliance-with-terms-and-conditions-by-debenture-trustees-dts-for-carrying-out-activities-outside-the-purview-of-sebi_105454.html