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SEBI's Master Circular of September 28, 2026 consolidates every circular on debenture trustees into 17 chapters and rescinds the August 13, 2025 version. It covers due diligence, security cover, default handling and the October 27, 2026 deadline for separating non-SEBI activities.
Master Circular for Debenture Trustees
28 September 202635 min
SEBI has granted an additional 6 months to Debenture Trustees for complying with Regulation 9C requirements. The new deadline to transfer non-SEBI activities to separate business units is October 27, 2026. All other conditions of the November 25, 2025 circular remain unchanged.
Extension of timeline for compliance with terms and conditions by Debenture Trustees for carrying out activities outside the purview of SEBI
29 April 2026Eff. 28 April 20269 min