Dear All,
Ours is a pvt. ltd. company, we are issuing UNSECURED DEBENTURES to the present shareholders, is their any saperate form to intimate ROC about that, or it should be filed with annual filling.
Regards
Ashwin
1 Replies
Ajay Mishra
(Company Secretary)
(74342 Points)
Replied 20 July 2013
Hi
Under the Companies (Acceptance of Deposit) Rules, 1975 “any amount raised by issue of debentures (including convertible debentures) secured by the mortgage of any immovable property of the company and that the market value of the immovable property secured is higher than the amount of debentures issued” is not considered to be a deposit.
(b) Under Section 3(1)(iii)(d) of the Act, a Private Company is prohibited from accepting Deposit from persons other than its Directors, Members and their relatives.
(c) Hence, the Private Company must issue Debentures only as a Secured Debenture.
You will only file Form-20B Annually with ROC, giving details of debentures issued during the year.
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