Right to recall or redeem prior to maturity requires issuers to offer call/put options with disclosed terms and holder notice. Issuers of non-convertible securities must either retain a call option or provide a put option allowing redemption prior to maturity, with detailed offer document disclosure of exercisability date, exercise period, and redemption amount. Rights may be exercised in whole or in part, subject to proportionate allocation for partial issuer exercises and a prohibition on exercise within the first year. Issuers must give prescribed advance notice to eligible holders and debenture trustees, provide a copy to the stock exchange, pay interest for delay, and report redemption details to the stock exchange, debenture trustee, and depositories. 'Retail investor' is defined by aggregate face value.