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Private limted company and debentures

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(Querist)
15 February 2011 can private limited company issue non- convertible debentures to more than 50 people?
I understand that it cannot issue convertible debentures to more than 50 people as they will eventually be shareholders.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
15 February 2011 Holder of non convertible debenture is not considered shareholders of the Company so it can be issude to more than 50.

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