Section 12 in Securities and Exchange Board of India (Debenture Trustees) Rules, 1993
12. Payment of fees, and the consequences of failure to pay fees.
(1)Every applicant eligible for grant [of initial or permanent registration, as the case may be] [Substituted 'or renewal of a certificate' by the SEBI (Debenture Trustees) (Amendment) Regulations, 2011, w.e.f. 5-7-2011.] shall pay the fees in such manner and within the period specified in Schedule II:Provided that Board may, on sufficient cause being shown, permit the debenture trustee to pay such fees at any time before the expiry of six months from the date on which such fees become due.(2)Where the debenture trustee fails to pay the fees as provided in sub-regulation (1), the Board may suspend the certificate, whereupon the debenture trustee shall forthwith cease to act as a debenture trustee.
