Question
As per Companies Act, 2013, the maximum tenure of
secured Debentures is ____Solution
As per Section 71 of the Companies Act, 2013 under Companies (Share Capital & Debentures) Rules, 2014 • A Company may issue wholly or partly convertible debentures and such issue shall be approved by a Special Resolution passed at a General Meeting. • Company cannot issue debentures carrying voting rights. • Company should create Debenture Redemption Reserve Account out of the distributable profits. • It is mandatory to appoint debenture trustee if debenture is issued to more than 500 persons • Payments of interest & redemption shall be with the terms of the issue. • Secured debentures maximum tenure should be 10 years. But for Infra it is 30 years.
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