Dear Members,
As per Section 71(5) No company shall issue a prospectus or make an offer or invitation to the public or to its members exceeding 500 for the subscription of its debentures, unless the company has, before such issue or offer, appointed one or more debenture trustees and the conditions governing the appointment of such trustees shall be such as may be prescribed.
However there is no limit of number of members as per Rule 18(1)(c) for appointment of debenture trustee.
So, if Company is issuing secured debenture t
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