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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 29-APR-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

DEBENTURE TRUSTEES: VIOLATED SEBI (ISSUE & LISTING OF DEBT SECURITIES) REGULATIONS, 2008

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person AXIS BANK LTD.  
  TRUST DEED DID NOT CONTAIN CERTAIN CLAUSES VIOLATING REGULATION 14 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT MONITOR PAYMENT OF INTEREST/REDEMPTION AMOUNTS ON OR BEFORE DUE DATES VIOLATING REGULATIONS 15 (1) (G) (III) & (IV) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT HAVE PRACTICE OF TAKING VALUATION REPORTS, CARRYING OUT SITE INSPECTIONS IN RESPECT OF TRUST PROPERTY AND PERIODIC CHECKING OF CASH FLOWS OF ISSUERS COMPANIES VIOLATING REGULATIONS 15(1) (H),15(5) AND CLAUSE 4 OF CODE OF CONDUCT OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT FOLLOW UP TO OBTAIN QUARTERLY REPORT STATEMENTS AND DID NOT MAKE ATTEMPT TO INSPECT TRUST PROPERTY VIOLATING REGULATIONS 15 (1) (H) AND 15(5) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT HAVE PRACTICE OF SHARING INFORMATION WITH CREDIT RATING AGENCIES WHO HAVE RATED THE ISSUE VIOLATING CLAUSE 13 OF CODE OF CONDUCT UNDER REGULATION 16 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT MAINTAIN REGISTER OR DATABASE OF COMPLAINTS IN RESPECT OF PARTICULAR ISSUE VIOLATING CLAUSE 16 OF CODE OF CONDUCT AND REGULATION 15 (1) (F) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT SEND HALF YEARLY COMMUNICATIONS TO DEBENTURE HOLDERS REGARDING COMPLIANCE OF THE TERMS OF ISSUE OR DEFAULTS ,ACTION TAKEN ETC. VIOLATING REGULATION 15 (1) (N) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT OBTAIN WRITTEN AGREEMENTS VIOLATING REGULATIONS 13(A) & (B) (II) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

ACTED AS TRUSTEE TO COMPANY TO WHOM IT HAS LENT MONIES VIOLATING REGULATIONS 13A (A) AND 13A (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT CALL MEETING OF ISSUER COMPANY DESPITE THE COMPANY BEING IN DEFAULT IN PAYING INTEREST AND REDEMPTION AMOUNT VIOLATING REGULATIONS 15 (1) (M) AND 15(2) (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

EXECUTED TRUST DEED AFTER CLOSURE OF ISSUE VIOLATING CLAUSE 10.2.3 OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000

VIOLATED SEBI (ISSUE & LISTING OF DEBT SECURITIES) REGULATIONS, 2008

DID NOT DISSEMINATE ALL INFORMATION AND REPORTS ON DEBT SECURITIES INCLUDING COMPLIANCE REPORTS FILED BY ISSUERS AND DEBENTURE TRUSTEES VIOLATING REGULATION 23(4) OF SEBI (ISSUE AND LISTING OF DEBT SECURITIES) REGULATIONS, 2008  		IMPOSED PENALTY RS.2,00,000

10-MAR-2011 		SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

SAT: SAT VIDE ITS ORDER DATED 06/03/2017 ALLOWED APPEAL TO BE WITHDRAWN WITH LIBERTY TO FILE FRESH APPEAL WITHIN A PERIOD OF TWO WEEKS FROM THE DATE OF THIS ORDER. NO COSTS
2 
History of entity/person INDIAN BANK  
  DID NOT OBTAIN QUARTERLY COMPLIANCE REPORTS VIOLATING REGULATION 15(1) (C) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

LACKED PROPER MONITORING SYSTEM FOR INTEREST AND PRINCIPAL REPAYMENT AND SHARING OF INFORMATION WITH CREDIT RATING AGENCIES VIOLATING REGULATION 15(1) (Q) (IV) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

NO COMPLIANCE OFFICER HAD NISM CERTIFICATION VIOLATING REGULATION 17A (4) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993

DID NOT DISSEMINATE HALF-YEARLY COMPLIANCE REPORTS SUBMITTED TO SEBI VIOLATING REGULATION 23(4) OF SEBI (ISSUE AND LISTING OF DEBT SECURITIES) REGULATIONS, 2008  		IMPOSED PENALTY RS.8,00,000

25-APR-2019
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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