Name the debenture that do not have a specific charge on the Assets of a Company.

Unsecured Debenture

The correct answer is Option 2 - Unsecured Debenture.

Unsecured Debenture do not have a specific charge on the Assets of a Company.

Unsecured debentures do not have a specific charge on the assets of the company. However, a floating charge may be created on these debentures by default. Normally, these kinds of debentures are not issued. Unsecured debentures, also known as 'Naked Debentures'.

OTHER OPTIONS

Option 1: Secured Debenture-  Secured debentures refer to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default. The charge may be fixed or floating.

Option 3: Irredeemable Debenture- Irredeemable debentures are also known as Perpetual Debentures because the company does not give any undertaking for the repayment of money borrowed by issuing such debentures. These debentures are repayable on the winding-up of a company or on the expiry of a long period.

Option 4: Non-Convertible Debenture- The debentures which cannot be converted into shares or in any other securities are called non convertible debentures. Most debentures issued by companies fall in this category.