REGISTER AND INDEX OF DEBENTURE HOLDERS

Section and Name           Section 152(2) REGISTER AND INDEX OF DEBENTURE HOLDERS

Requirements and Format          "The register should contain information relating to name, father’s /husband’s name; address and occupation, if any, of each debenture holder; date of allotment; date of registration with the Registrar of Companies; the debentures held by each holder distinguishing each debenture by its number except where such debentures are held with a depository; distinctive number and certificate number of debentures; the amount paid or agreed to be considered as paid on those debentures; date of payment; date on which the name of each person was entered in the register as a debenture holder; date on which any person ceased to be a debenture holder; date of transfer of debentures; serial number  of instrument of transfer; transferor’s name and folio number; transferee’s name and folio number, transfer number, number of debentures transferred and their distinctive numbers; date of transfer; and instructions, if any, for payment of interest."

Every company having more than 50 debenture holders should also keep an index of the names of the debenture holders of the company unless the register is in such form as in itself constitutes an index. 

Entries in the register should be made simultaneously with the allotment or transfer of debentures and entries in the index should be made forthwith.

In the case of joint shareholders, the particulars of each joint shareholder should be recorded in the register.

Where a company closes its register of debenture holders, it should give not less than 7 days previous notice by advertisement in an English newspaper or in a vernacular newspaper circulating in the district in which the registered office is situated.

Where to Kept  "The register and index should be maintained at the registered office of the company unless, in a general meeting, a special resolution is passed, authorizing the keeping of the register at any other place within the same city, town or village in which the registered office is situated and an advance copy of the proposed special resolution is given to the Registrar of Companies. "

Inspection          "Except when the register is closed under the provisions restrictions as the company may impose by its articles or in general meeting so that not less than 2 hours in each working day of the company are allowed for inspection.

Members or debenture holders and trustees of debenture holders can inspect the register and index without payment of any fee and any other person can inspect the register on payment of the requisite fee.                                                                                            

Copies of the register can be demanded by any person who inspects the register."

Authentication Entries in the register and index should be authenticated by the secretary of the company or by any other person authorized by the Board for the purpose, by appending his signature to each entry.

Preservation      The register and index should be preserved for a period of 15 years from the date of redemption of debentures and should be kept in the custody of the secretary of the company or any other person authorized by the Board for the purpose.