(1) Where it appears to the Board so to do, it may appoint one or more persons as inspecting authority to undertake the inspection of the books of account, other records and documents of the debenture trustee for any of the purposes specified in sub-regulation (2).
(2) The purposes referred to in sub-regulation (1) shall be as follows, namely:—
(a) to ensure that the records and documents which are relevant to debenture trustees are being maintained in the manner required by the Board;
69[“(b) that the provisions of the Companies Act, 2013, Circulars, rules and regulations are being complied with;]
(c) to ascertain as to whether there exist any circumstances which would render the debenture trustee ineligible for grant of registration or continuance thereof;
67 Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2003, w.e.f. 4-7-2003.
68 Inserted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2017, w.e.f., 13-7-2017.
69 Substituted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2017, w.e.f., 13-7-2017. Prior to the same, clause (b) read as follows:
“(b) that the provisions of the Companies Act, 1956, rules and regulations are being complied with;”
(d) to investigate into the complaints received from investors, other debenture trustees or any other person on any matter having a bearing on the activities of the debenture trustee; and
(e) to investigate suo moto in the interest of securities business or investors interest into the affairs of the debenture trustee.
Procedure for inspection.