Debenture by pvt. co.

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manju (Querist)
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21 December 2012 A pvt. co. wants to issue unsecured fully convertible debentures to its directors and shareholders. I think this will not be treated as deposit.

Can it be issued and what are the required formalities including of ROC in this regard?

Ajay Mishra

Ajay Mishra (Expert)
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21 December 2012 Hi

Subscription against bonds, debentures, etc. secured by mortgage with or without option to convert into shares [Rule 2(b)(x)]
Any amount received with applications for bonds and debentures pending allotment by the company. The bonds and debentures, referred to herein, should be secured by a mortgage of any immovable property of the company. Amount received in respect of fully convertible debentures and convertible portion of partly convertible debentures are also not deposits. The amount of said bonds and debentures shall not exceed the market value of such bonds and debentures.

Ajay Mishra

Ajay Mishra (Expert)
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21 December 2012 Hi

For more details give email for the same.

manju

manju (Querist)
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21 December 2012 email is shresth2@rediffmail.com

Ajay Mishra

Ajay Mishra (Expert)
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21 December 2012 I think, u got the same.

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