: (1) In relation to the debenture raised by a company, there should be an agreement between the debenture issuing company and the debenture trustee who acts as a trustee to protect the interests of the debenture holders.
(2) When entering into an agreement according to sub-section (1), the following things must be disclosed in such an agreement:-
(a) that the Debenture Trustee may cause a valuation, project analysis or management analysis of the company's assets,
(b) Debenture purchased by the debenture holder and time of payment of interest, rate of interest, process of payment of principal and interest and related matters if there is a provision for converting debentures into shares,
(c) Matters related to the provisions regarding the rights of other creditors and liabilities arising in the future on the company's assets,
(d) In case of violation or non-fulfillment of the conditions mentioned in the agreement, or if the company's financial affairs are to be taken under control for any other reason, or if the collateral under the agreement is to be seized, the debenture trustee may take possession of the equity or property of such company or the property taken as mortgage security by the debenture trustee or That which may be held by the bailee or sold by auction or other suitable means,
(e) Matters relating to the procedure for payment of service fees and other direct expenses of the debenture trustee by the company,
(f) not to be liable for any loss or damage to the company or the debenture holder while acting as a debenture trustee,
(g) In case the company has to be dissolved, the debenture trustee can take legal action on behalf of the debenture holder and exercise the rights of the debenture holder,
(h) Other necessary matters related to the protection of the interest of the debenture holders.
(3) The debenture trustee may take the company's equity as security for the purpose of protecting the interest of the debenture holder and may pass such security in his name in accordance with the prevailing law.
(4) Before taking security under sub-section (3) if the Debenture Trustee deems it necessary, securityIt can also make the valuation of the property or assets to be taken and the company's project analysis or management analysis.
(5) After an agreement has been reached between the debenture trustee and the company in accordance with this section, if such company raises more debentures, the approval of the debenture trustee shall be obtained.