Debenture Whether fixed deposit constitutes “debenture” within the meaning of clause (12)

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Full Text of the Document

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....n South India issued an advertisement in English Daily inviting "fixed deposits" from the public to carry out its expansion and development plans and that the Registrar of Companies concerned advised the company that inasmuch as such an advertisement partook the nature of a "prospectus" within the meaning of section 2(36), the provisions of sections 56(3) and 60 should have been duly complied with....