धारा 138

The Board may, with the approval of the shareholders, issue securities of the company. The securities may be in the form of debentures, bonds or any other instrument. The securities may be secured or unsecured. The Board may also issue securities convertible into shares. The securities shall be issued in such manner as may be prescribed. The company shall not issue securities if it has not complied with the requirements of this Act. The company shall not issue securities if it has not paid up the amount due to any security holder. The company shall not issue securities if it has not complied with the requirements of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.