Can a private ltd co issue debentures

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sangeeta

sangeeta (Querist)
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13 October 2014 Can a pvt ltd co issue debentures under companies act 2013 ? Secured and unsecured both?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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13 October 2014 Yes.

Pursuant to Section 71 of the Companies act, 2013, a company may issue debentures with an option to convert such debentures into shares, either wholly or partly at the time of redemption:
Provided that the issue of debentures with an option to convert such debentures into
shares, wholly or partly, shall be approved by a special resolution passed at a general
meeting.

Secured debentures may be issued by a company subject to such terms and
conditions as may be prescribed.

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