MITCON Trusteeship Services Private Limited (“MTSPL”), a company incorporated under Companies Act, 2013 bearing Corporate Identification Number U93000PN2018PTC180330 and having its registered office at Kubera Chambers, 1st Floor, Shivajinagar, Pune – 411005 is a Wholly Owned Subsidiary of M/s MITCON Consultancy & Engineering Services Limited.
The objects to be pursued by the Company are as follows:
- To hold charge on Borrower’s assets including interest in underlying security on behalf of the multiple lenders, to coordinate with lenders, borrowers and all other agencies involved in the chain, to protect lenders interest in respect of security held under the charge including verification of the title deeds related to mortgaged property and holding of such title deeds under the custody of STA at one place, to enforcement of the security when required by the lenders and disbursement of the sale proceeds without prejudice and to act in place of Lenders for holding the security and enforcing the same for and on behalf of the lenders for the benefit of the Lenders.
- To advise Issuer Company on mode of creation of Security & registration of Debenture Trust Deed, enforce of Security in the interest of the debenture holders, to hold the Security/Charge on behalf of debenture holders and hold the security documents in safe custody, to ensure the protection of interest of investor or the debenture holders and to ensure an adequate asset coverage ratio during the tenure of the debenture/bond.
- To analyze of servicer reports, ensuring timely and accurate payouts, to co-ordinate & follow up with Arrangers, Legal Counsels, Investors, Originators, Bankers and Rating Agencies, to provide Credit enhancement/liquidity facility Invocation (in case of shortfall) as per RBI Guidelines, to collect proceeds from the investors and providing the same to the originator and to provide investor servicing for responding to any queries/clarifications sought by the investors.
- To provide services related to escrow for disputed liability, escrow for business acquisition, escrow for private equity transactions, escrow for holding the securities and escrow for timely payouts and maintenance of proper documentation of escrow mechanism.
- To execute and register Indenture of Trust, Investment Management Agreement, to process SEBI application for AIF registration and vetting Private Placement Memorandums – Issued by Investment Manager on behalf of the Trust.
- To conduct Legal due diligence on assets and monitoring the flow of funds, to convene meetings of unit holders and maintenance of records, to check investor relationship activity including review of unit holders complaints and their redressal, to regulate compliance and annual administration during the life of the trust, to transfer of assets and listing assistance and to oversight of activities of the business trust under regulatory framework.
- To create security in favour of depositors, to redress grievance for depositors and to monitor deposit insurance, charged assets of the company & creation and adequacy of deposit repayment reserve account.
- To pledge shares for the benefit of lender for the entire tenor of the transaction, to carry out the valuation of shares for the listed shares pledged with on a daily, weekly & monthly basis and to invoke the pledge on the basis of instructions received from the lender(s).
- To safely keep valuable documents, deeds, certificates etc. of clients in fire proof safe custody which is under 24 hours security in an exclusive tie up with any authorized authority.