IFSCA Master Circular for Debenture Trustees – Aug 2025
Introduction:
The International Financial Services Centres Authority (IFSCA) has issued a comprehensive Master Circular for Debenture Trustees operating in GIFT IFSC. This aligns with the newly notified Capital Market Intermediaries Regulations, 2025.
Summary:
This 22-page Master Circular outlines the regulatory framework for registration, governance, operational conduct, due diligence, and reporting obligations of Debenture Trustees in IFSC. Key highlights include:
- Registration & Fees: Mandatory use of SWIT system and payment details in INR or USD.
- Governance Norms: Appointment of Principal Officer and Compliance Officer within IFSC.
- Permissible Activities: Trusteeship for debentures issued or listed in IFSC or foreign jurisdictions.
- Due Diligence & Monitoring: Independent assessment of covenants, charge creation, and continuous oversight.
- Default Protocols: Mandatory actions in event of payment/default, including nomination of directors.
- Cybersecurity: Entities must comply with IFSC-specific cyber resilience guidelines.
- Reporting: Quarterly filings, annual compliance audits, and mandatory disclosures in case of change in control or registration surrender.
This Master Circular consolidates prior directions and enhances compliance clarity for debenture trustees under the IFSCA regime.
Website Link for Full Notification:
👉 View Full Circular on IFSCA Website
Nexpective Advisors is your trusted partner in GIFT IFSC regulatory and advisory services. If this update affects your operations, we’re here to help you stay compliant and proactive.
