JSW Paints Enters ₹2950 Cr Debenture Deed

JSW Paints Limited, the promoter of JSW Dulux Limited (JDL), has entered into a debenture trust deed (DTD) with Axis Trustee Services Limited for an aggregate amount of up to INR 2950,00,00,000/-. This DTD is for partially refinancing certain existing financial indebtedness of JSW Paints. While JDL is not a direct party to the DTD, certain specified clauses will be applicable to it. The DTD includes standard representations, warranties, covenants, and events of default. The DTD imposes no direct liabilities on JDL, but significant changes in JSW Paints' shareholding or control over JDL could trigger consequences as per the DTD.