48. Insertion of new sections 117A, 117B and 117C.- After section 117 of the principal Act, the following sections shall be inserted, namely:-" 117A. Debenture trust deed.- (1) A trust deed for securing any issue of debentures shall be in such form and shall be executed with in such period as may be prescribed.(2) A copy of the trust deed shall be open to inspection to any member or debenture holder of the company and he shall also be entitled to obtain copies of such trust deed on payment of such sum as may be prescribed.
(3)If a copy of the trust deed is not made available for inspection or is not given to any member or debenture holder, the company and every officer of the company who is in a default, shall be punishable, for each offence, with fine which may extend to five hundred rupees for every day during which the offence continues.
