Share Capital and Debenture Rules definition
Examples of Share Capital and Debenture Rules in a sentence
The Issuer agrees and undertakes that the security interest created over specific movable property (as understood under Rule 18(1)(d) of the Companies (Share Capital and Debenture) Rules, 2014) in favour of the Debenture Trustee, for the benefit of the Debenture Holders, shall be sufficient to discharge principal amounts of the Debentures and the Coupon at all times.
Subject to compliance with Rule 18 of the Share Capital and Debenture Rules, neither the Trustee nor any agent of the Trustee shall be precluded from making any contract or entering into any arrangement or transaction with the Issuer or with itself in the ordinary course of business of the Trustee.
The Issuer being a listed company is not required to maintain a debenture redemption reserve ("DRR") in accordance with Section 71 of the Act, Rule 18 of the Share Capital and Debenture Rules, pursuant to the Companies (Share Capital and Debenture) Amendment Rules, 2019 dated August 16, 2019.
The Debenture Trustee represents and warrants that it is eligible to act as a trustee for the issuance of the Debentures in accordance with the provisions of the Act, the Share Capital and Debenture Rules, SEBI (Debenture Trustee) Regulations, 1993 (“Debenture Trustee Regulations”) and other Applicable Law, and that there are no events or circumstances existing as of the date of this Deed that disqualify it from acting as a trustee.
The Board may, subject to the provisions of Section 55 of the Act and the Companies (Share Capital and Debenture) Rules, 2014, exercise such power in such manner as it may think fit.
The Trustee represents and warrants that it is eligible to act as a trustee for the issuance of the Debentures in accordance with the provisions of the Act, the Share Capital and Debenture Rules and other applicable Law, and that there are no events or circumstances existing as of the date of this Deed that disqualify it from acting as a trustee.
The Issuer shall create and maintain for so long as any Obligations are outstanding, a debenture redemption reserve ("DRR") in accordance with Section 71 of the Act, Rule 18 of the Share Capital and Debenture Rules, any guidelines issued by SEBI and any other applicable Law, from time to time.
If so required by Law, the Issuer shall, within 5 (five) days from the receipt of request from the Trustee, deliver to the Trustee, a certificate duly signed by the statutory auditor of the Issuer confirming that it has complied with all of its obligations under sub-rule (7) of Rule 18 of the Share Capital and Debenture Rules.