law: Companies Act, 1956
  Sec 120     -    
  
  Perpetual debentures.
  A condition contained in any debentures or in any deed for
  
  securing any debentures, whether issued or executed before or after the
  
  commencement of this Act, shall not be invalid by reason only that thereby, the
  
  debentures are made irredeemable or redeemable only on the happening of a
  
  contingency, however remote, or on the expiration of a period, however long.