Securities And Exchange Board Of India - Subsection
Section 20(3) in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
(3)The trust deed shall not contain a clause which has the effect of:(a)limiting or extinguishing the obligations and liabilities of the debenture trustees or the issuer in relation to any rights or interests of the investors;(b)limiting or restricting or waiving the provisions of the Act, or Securities Contracts (Regulation) Act, 1956 or the Depositories Act, 1996, and the regulations and circulars or guidelines issued by the Board from time to time;(c)indemnifying the debenture trustees or the issuer for loss or damage caused by their act of negligence or commission or omission.
