The correct answer is option 3- Non-Transferable Debentures.
Non-Transferable Debentures is not a type of Debenture.
OTHER OPTIONS
- 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.
- 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.
- Non-Convertible Debentures are the debentures which cannot be converted into shares or in any other securities. Most debentures issued by companies fall in this category.
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