Company law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2013 dear,
pls suggest me the concept of perpetual debentures, can a pvt ltd company can issue perpetual debentures

Ajay Mishra

Ajay Mishra (Expert)
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25 September 2013 Hi

Irredeemable debentures.—These debentures are also called and known as perpetual debentures. Section 120 deals with perpetual debentures. It reads as under:
A condition contained in any debentures or in any deed for securing any debentures, whether issued or executed before or after the commencement of this Act, shall not be invalid by reason only that thereby, the debentures are made irredeemable or redeemable only on the happening of a contingency, however remote, or on the expiration of a period, however long.

Yes, private company can issue such kind of debentures.

Querist : Anonymous

Querist : Anonymous (Querist)

27 September 2013 thanks
would u pls tel me the procedure for issue said debentures

Ajay Mishra

Ajay Mishra (Expert)
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27 September 2013 Go to the following link for complete procedure:

http://www.eshwars.com/ARTICLE_AUDIT_COMMITTEE.pdf

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