Securities And Exchange Board Of India - Subsection
Section 26(1) in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
(1)The debenture trustee shall be vested with the requisite powers for protecting the interest of holders of municipal debt securities:Provided that, where the issuer is a body corporate to which the Companies Act, 2013 applies such powers shall include a right to appoint a nominee director on the Board of the issuer, in consultation with institutional holders of such securities.
