Clause (r) or sub-regulation (1) of regulation 2 of the SEBI (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008 defines “securitisation” to mean :
• acquisition of debt or receivables
• by any special purpose distinct entity from any originator or originators
• for the purpose of issuance of securitised debt instruments to investors based on such debt or receivables and such issuance,
“Originator” under these Regulations, means the assignor of debt or receivables to a special purpose distinct entity for the purpose of securitisation.