Match List-I with List-II

List-I	List-II
Type of Debenture	Explanation
(A) Secured Debentures	(I) These debentures do not have a specific charge on the assets of the company.
(B) Irredeemable Debentures	(II) These debentures are those which are payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company.
(C) Unsecured Debentures	(III) It refers to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default.
(D) Redeemable Debentures	(IV) These debentures are repayable on the winding-up of a company or on the expiry of a long period.

Choose the correct answer from the options given below:

Looking at each type of debenture and matching it with the correct explanation:

Secured Debentures (A) are debentures backed by a charge on the company's assets. If the company defaults, these assets can be sold to repay debenture holders. This matches with (III) - "charge is created on the assets of the company for the purpose of payment in case of default."

Irredeemable Debentures (B) are perpetual in nature and are not redeemed during the company's normal operations. They are repaid only when the company winds up or after an extremely long period. This matches with (IV) - "repayable on the winding-up of a company or on the expiry of a long period."

Unsecured Debentures (C) have no specific charge on company assets. In case of default, holders become unsecured creditors. This matches with (I) - "do not have a specific charge on the assets of the company."

Redeemable Debentures (D) are repaid within a specified time period during the company's lifetime, either as a lump sum on maturity or in installments. This matches with (II) - "payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company."

The correct matching is: (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Option 2 is correct.