A Company had obtained authorization from Board of Directors for issue of Debentures in compliance with Section 292 of the Act.
Now, can the Debentures be allotted through circulation?
Rgds,
Ashish
Ashish Gupta (CS & Legal) (114 Points)
31 August 2010A Company had obtained authorization from Board of Directors for issue of Debentures in compliance with Section 292 of the Act.
Now, can the Debentures be allotted through circulation?
Rgds,
Ashish
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 31 August 2010
Read sectin 292(b) it will sort out your query.
RAJANISH SEKHAR T TONPE
(MANAGER - SECRETARIAL)
(21 Points)
Replied 26 April 2012
Can we treat Issue of Debentures and allotment of the same as two different activities the way we do it in case of issue and allotment of shares?
Following the provisions of section 292, if we obtain a Board approval for issue of Debentures in a duly convened Board meeting, Can the Board allot debentures subseqently as and when the monies are received by the Company by means of a Circular resolution?
CAclubindia
