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September 2026
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SEBISEBI issues a fresh Master Circular for Debenture Trustees on 28 September 2026; the August 2025 Master Circular is rescinded
DT Master Circular, 28 Sep 2026New facilitySEBI has issued a new Master Circular for Debenture Trustees dated 28 September 2026, compiling the circulars in force on that date in 17 chapters. The Master Circular of 13 August 2025 stands rescinded, with actions taken under it saved. Annexure 1 lists five superseded circulars, including those on issuer reporting timelines, the Recovery Expenses Fund and activities outside SEBI’s purview.
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SEBISEBI launches “Demat 2.0” pilot for tokenised corporate bonds; three issuers raise ₹1,025 crore, funds leg settled in RBI’s wholesale e₹
Demat 2.0: ₹1,025 crore raisedNew facilitySEBI has announced the launch of “Demat 2.0”, a pilot in which corporate bonds are created as digital tokens on a distributed ledger owned by the depositories and settled against RBI’s wholesale CBDC (e₹). REC, L&T and IIFL have issued tokenised bonds aggregating ₹1,025 crore. Credit rating, debenture trustee, listing and disclosure requirements continue to apply in full.
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Company LawCCI directs Trustees’ Association of India and three debenture trustees to cease and desist from fixing a benchmark fee; no monetary penalty
CCI: cease and desist, no penaltyBy an order dated 2 September 2026 under section 27 of the Competition Act, 2002, CCI has directed Trustees’ Association of India, IDBI Trusteeship Services Limited, Axis Trustee Services Limited and SBI CAP Trustee Company Limited to cease and desist from conduct found to violate section 3(3)(a) and 3(3)(b) read with section 3(1). No monetary penalty was imposed.
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