The SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship, the trustee units of SBI, Axis and IDBI Banks respectively, are under investigation of Competition Commission of India (‘CCI’), for cartelisation, based on a complaint by Muthoot Finance. These debenture trustees are needed u/s 71(5) of the Companies Act, 2013, for issuing debentures beyond 500. Incidentally, all these three SBICAP Trustee Company, Axis Trustee and IDBI Trusteeship are founding members of Trustees Association of India (‘TAI’). TAI substantially enhanced its fee for assisting companies raising debt and prevented anyone from going below this figure.
Strategic Consultant
