The Securities and Exchange Board of India (SEBI) on November 25, 2025, issued the notification regarding the Timeline for submission of information by the Issuer to the Debenture Trustee(s) (DT)
The following has been stated namely: -
• Under Regulations 15(1)(s) and 15(1)(t) of the SEBI (Debenture Trustees) Regulations, 1993, DTs must conduct ongoing due diligence.
• Chapter II in the DT Master Circular outlines due-diligence requirements for creation of security at issuance, while Chapter VI mandates incorporating periodical monitoring obligations into the debenture trust deed.
• Issuers must provide specific reports/certificates to DTs to support timely monitoring, including:
o Security Cover Certificate every quarter (within 60 days, or 75 days for the last quarter).
o Statements of pledged securities, DSRA value, and net-worth certificate of personal guarantor on a half-yearly basis (within 60 days).
• Guarantor financials/value (for corporate guarantee-backed securities) must be submitted annually within 60 days of year-end.
• Valuation and title search reports for immovable/movable secured assets must be submitted once every three years within 60 days of year-end.
These reporting and due-diligence requirements apply starting the quarter ending December 31, 2025.
[Notification No. HO/17/11/12(3)2025-DDHS-POD1/ I/144/ 2025]
