SEBI Expert Group on Debenture Trustees

Why in News

SEBI constituted an Expert Working Group to review the regulatory framework governing debenture trustees.

Chair

Ananta Barua

Former SEBI Whole-Time Member.

Co-chair

Rajnish Kumar

Former SBI Chairman.

Existing Regulation

SEBI (Debenture Trustees) Regulations, 1993

Objective

Review and improve:

• Net-worth norms
• Trustee functions
• Compliance provisions
• Investor protection
• Regulatory efficiency

Public Feedback Deadline

15 July 2026

UPSC Concept: What is a Debenture Trustee?

When companies issue debentures, trustees act to protect the interests of debenture holders.

Conceptually:

Company → Issues Debentures → Investors

Debenture Trustee → Protects Investors' Interests

Why Regulation Matters

Strong trusteeship improves:

• Investor confidence
• Corporate bond markets
• Debt-market transparency
• Protection against issuer default/misconduct

GS Link

GS III: Capital Markets, SEBI, Financial Regulation