Capital gains exemption for reinvestment in specified long-term debentures subject to seven-year holding; early conversion attracts capital gains tax. The notification designates certain long-term debentures as qualifying securities for exemption under section 54EB where the investment is made from net consideration of a long-term capital asset. The debentures must be issued by the named public company within seven years, be non-transferable for seven years, and subject to an aggregate issuance cap. If the assessee transfers or converts the allotted debentures into money or otherwise disposes of them within seven years of allotment, the initial investment is chargeable to tax as capital gains under the section.