In which of the following instruments the investor has the option to either convert these debentures into shares at price decided by the issuer/agreed upon at the time of issue.

• A. Non Convertible Debentures (NCD)
• B. Partly Convertible Debentures (PCD)
• C. Fully convertible Debentures (FCD)
• D. Optionally Convertible Debentures (OCD)