Incorporation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 September 2012
what are the provisions to be drafted in Articles of Association of the Company regarding Debentures in a Private Company. And what are the rights available to the Directors of the Company with regard to the Debentures.
Ajay Mishra
(Expert)
19 September 2012
Hi
Following clause should be in AOA of private company:
1. No invitation shall be issued to the public to subscribe for any shares in or
debentures of the Company.
2. Subject to section 58A and 292 of the Act, and the Regulations made thereunder and Directions issued by the R.B.I. the Directors shall have the power, from time to time and their discretion, to borrow, raise or to secure the payment of any sum of money for the purpose of the Company in such manner and upon such terms and conditions in all respects as they think fit and in particular by the issue of debentures or bonds of the Company or by mortgage charged upon all or any of the properties of the Company both present and future including its uncalled capital for the time being.
Following clause should be in AOA of private company:
1. No invitation shall be issued to the public to subscribe for any shares in or
debentures of the Company.
2. Subject to section 58A and 292 of the Act, and the Regulations made thereunder and Directions issued by the R.B.I. the Directors shall have the power, from time to time and their discretion, to borrow, raise or to secure the payment of any sum of money for the purpose of the Company in such manner and upon such terms and conditions in all respects as they think fit and in particular by the issue of debentures or bonds of the Company or by mortgage charged upon all or any of the properties of the Company both present and future including its uncalled capital for the time being.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- GST ITC as per notification 12/2023- central tax
- Gift to nri relatives resides in usa
- Rent agreement of House of deceased person
- Applicability of tax on invoice
- Form 144 TDS Return Validation error
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
