Give the meaning of Debenture.

Debenture refers to a formal written document issued by a company acknowledging its debt obligation. It is a long-term borrowing instrument used by companies to raise capital from the public or financial institutions. Debentures are typically unsecured (though sometimes secured by assets) and carry a fixed rate of interest. They are similar to bonds but are often used in the context of corporate finance. Debenture holders are creditors of the company and have no ownership rights, unlike shareholders. They are repaid at a specified maturity date along with the interest. Debentures are an important source of finance for companies, especially when equity financing is not feasible or desirable. They help in diversifying the capital structure of a company.