Securities And Exchange Board Of India - Subsection
Section 26(2) in Securities And Exchange Board Of India (Debenture Trustees) Regulations, 1993
(2)A penalty of cancellation of certificate granted to a debenture trustee may be imposed if the debenture trustee-(i)indulges in deliberate manipulation or price rigging or cornering activities affecting the securities market and the investors' interests;(ii)is guilty of fraud, or is convicted of a criminal offence;(iii)violates any provision of insider trading regulations;(iv)fails to fulfil the obligations under the trust deed or has been discharged from its office under any of the circumstances mentioned in Section 71 of the Indian Trust Act, 1882 (2 of 1882);(v)violates the provisions of the Act, rules and regulations;(vi)violates the provisions of Companies Act and the rules made thereunder;(vii)has been removed by the debenture holders by a resolution passed by not less than 75 per cent of the debenture holders.
