Markets regulator Sebi on Wednesday proposed certain changes to regulations related to debenture trustees. A consultation paper has been issued to provide clarity on the term 'pecuniary relationship' of Debenture Trustee (DT) with the issuer under the existing norms and stakeholders can submit their comments till September 11. At present, there are restrictions on appointment of an entity as a DT in case of a certain level of pecuniary relationship with the issuer. The curbs will be applicable if the entity's pecuniary relationship with the issuer amounts to 2 per cent or more of its gross turnover or total income or Rs 50 lakh or such higher amount as may be prescribed, whichever is lower.
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