Debenture

This query is : Resolved 

21 July 2010 Hello Sir,
My query is-
Can a Debtor of a Company become a Debenture Trustee of that company?

21 July 2010 Hi,

Keeping in view the intention of law under proviso to sub-section (1) of section 117B read with section 117B(2), a debtor can not be appointed as debenture trustee.

Views of other experts solicited.

Regards

21 July 2010 Yes, agreed with Mr. Ankur that any person entitled to money which are to be paid by the Company to the debenture trustee cannot be appointed as debenture trustee


22 July 2010 In my view there is no such limitation under law.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries