Eligibility for issue of debentures
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2013
Dear All,
can anyone provide me the minimum net worth required for a listed company to issue of covertible debentures.
It's very urgent please let me know.
can anyone provide me the minimum net worth required for a listed company to issue of covertible debentures.
It's very urgent please let me know.
CA Lokesh Pokharna
(Expert)
05 February 2013
Under the Companies (Acceptance of Deposit) Rules, 1975 “any amount
raised by issue of debentures (including convertible debentures) secured by the
mortgage of any immovable property of the company and that the market value
of the immovable property secured is higher than the amount of debentures
issued” is not considered to be a DEPOSIT.
raised by issue of debentures (including convertible debentures) secured by the
mortgage of any immovable property of the company and that the market value
of the immovable property secured is higher than the amount of debentures
issued” is not considered to be a DEPOSIT.
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