https://www.taxtmi.com/highlights?id=52897 Private placement of securities - Allotment of Unsecured Fully Convertible Debentures (FCDs) in excess of 500 members - section 71(5) - However the restriction of 500 persons is done away if a trustee was appointed by the Company. In the instant case, it is an admitted fact that a trustee was appointed. Thus there was no restriction to the number of shareholders to whom the debentures would be issued. - AT en-us Sat, 11 Apr 2020 12:50:49 +0530 Sat, 11 Apr 2020 12:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52897 Private placement of securities - Allotment of Unsecured Fully Convertible Debentures (FCDs) in excess of 500 members - section 71(5) - However the restriction of 500 persons is done away if a trustee was appointed by the Company. In the instant case, it is an admitted fact that a trustee was appointed. Thus there was no restriction to the number of shareholders to whom the debentures would be issued. - AT Highlights SEBI Sat, 11 Apr 2020 12:50:49 +0530 https://www.taxtmi.com/highlights?id=52897