Section 160, The Companies Act, 2009

(1) The trustee of a debenture trust deed shall hold allcontracts, stipulations and undertakings given to him and all mortgages, charges and securities vested in him in connection with the debentures covered by the deed, or some of those debentures, exclusively for the benefit of the debenture holders concerned (except in so far as the deed otherwise provides); and the trustee shall exercise due diligence in respect of the enforcement of those contracts, stipulations, undertakings, mortgages, charges and securities and the fulfilment of his functions generally. (2) A debenture holder may sue– (a) the company which issued the debentures he holds for payment of any amount payable to him in respect of the debentures; or (b) the trustee of the debenture trust deed covering the debentures he holds or compensation for any breach of the duties which the trustee owes him, and in such action, it shall not be necessary for any other debenture holders of the same class, or if the action is brought against the company, the trustee of the covering trust deed, to be joined as a party. Disqualification for appointment as trustee of Rights of 112 113