Section 159, The Companies Act, 2009

(1) A person is not qualified for appointment as a trusteeof a debenture trust deed if he is– (a) an officer or an employee of the company which issues debentures covered by the trust deed or of a company in the same group of companies as the company so issuing debentures; (b) less than 18 years of age; (c) of unsound mind and has been so found by a court; (d) an undischarged bankrupt; (e) disqualified under section 218 from being appointed as a director of a company; (f) a substantial shareholder (as defined in 81. ) of the company. (2) If a trustee becomes subject to any of the disqualifications mentioned in subsection (1) after he has been appointed, he shall immediately cease to be qualified to act as a trustee of the debenture trust deed. (3) Any person who acts as a trustee of a debenture trust deed shall be guilty of an offence, if his appointment is invalid under subsection (1) or if he is disqualified from acting under subsection (2).