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DEBENTURE. — SPCC STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceSPCCDEBENTURE.1 Mark
Question
Under what circumstances is a resolution to issue a debenture required at a general meeting of a member necessary?
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Answer

When the total borrowed capital of a company exceeds its free reserve fund, a resolution is required to be passed in the general meeting for the consent of the members.

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