Other Requirements Homework Help

Other Requirements

No company should issue fully convertible debentures (FCDs) having a conversion period of more than 36 months unless conversion is made optional with put” and call option, If the conversion takes place at or after 18 months from the date of allotment, but before 36 months, any conversion. The part or whole, of the debenture should be optional and in the hands of the debenture-holders, However, issue of debenture cannot be made for acquisition of shares or providing loan to any group company. This requirement would not apply to the issue of fully convertible debentures providing conversion within a period of 18 months, The premium, amount and time of conversion should be determined and disclosed by the issuer company. The rate for debentures can be freely determined by the issuer company.

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