Can private company issue warrants convertible into shares

Dear Member`s

Since there is no Provision on Issue of warrants in the companies act 2013 can the same be issued ?

Companies Act 1956 had restriction on issue of warrants by Private company but the 2013 act has no such restriction.

However on a careful reading on private placement provision under section 42 , the term warrants is covered under the term "securities" and the provisions of Private Placement will be applicable for the same. 

In this background there are few professionals who say that the issue of warrants is now cancelled. Please share your views on the same. 

Thanks and regards