Pursuant to Section 71 of the Companies act, 2013, a company may issue debentures with an option to convert such debentures into shares, either wholly or partly at the time of redemption: Provided that the issue of debentures with an option to convert such debentures into shares, wholly or partly, shall be approved by a special resolution passed at a general meeting.
Secured debentures may be issued by a company subject to such terms and conditions as may be prescribed.
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