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Yes, in the case of NCDs with a term of more than 18 months, the issuer is obliged to appoint a debenture trustee.
The main duty of a debenture trustee is to safeguard the interests of debenture holders. A debenture trustee instils the confidence and trust of the investors in the issue. A debenture trustee exercises due diligence to ensure compliance.
Topic: NCD Intermediaries Feedback
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