Tds on interest on debentures

Dear Respected Experts,

Please kindly suggest on the following:

A Private Ltd. Company engaged in Construction Activities issued fully secured redeemable non-convertible debentures to Reliance Capital  Asset Management Ltd. (RCAM) and transferred to Individual Investors thereof. The Company is paying Interest on Debentures on Quarterly Basis.

Kindly suggest me about the issue of Debentures by a Private Company.

And TDS on Interest to be deducted u/s 194A or 193 and at what Rate ??

Thanks in Advance.