Section 7 in Securities and Exchange Board of India (Debenture Trustees) Rules, 1993
7. Eligibility for being debenture trustee.
- No person shall be entitled to act as a debenture trustee unless he is either-(a)a scheduled bank carrying on commercial activity; or(b)a public financial institution within the meaning of section 4A of the Companies Act, 1956; or(c)an insurance company; or(d)body corporate.
