Gujarat Co-operative Societies Act, 1961
(1) With the previous sanction of the State Government and the Trustee, and subject to the rules, the [State Land Development Bank] in the discharge of its functions issue debentures of such denominations, for such period, and at such rates of interest, as it may deem expedient on the security of the mortgages, or mortgages to be acquired or partly on mortgages held and partly on those to be acquired and properties and other assets of its land mortgages business. (2) Every debenture may contain term fixing a period not exceeding thirty years form the date of issue during which it shall be redeemable, or reserving to the committee the right to redeem at any time in advance of the date fixed for redemption after giving to the holder of the debenture not less than three months' notice in writing.