Security Trusteeship is a contractual arrangement amongst Borrower, Lenders (Banks, FIs and NBFCs) and the Security Trustee. This arrangement is established by executing a document called Security Trustee Agreement (STA).
Security Trustee co-ordinates with Lender, Borrowers and all the agencies involved in the chain.
Take care of all documents and creation of charges on all type of Securities.
Lenders can down sell or divest their stake to incoming lenders with minimal documentation.
Enforcement of the security when required by the lenders and distribution of the sale proceeds without prejudice.
Enforcement of Security in the interest of debenture holders (in case of default).
Initiate Recovery process as per terms and conditions of Security Trustee Agreement.
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