A debenture pledge agreement is one in which a debenture holder pledges the debentures in his name with a bank in order to obtain a loan. The agreement comes into force between the bank who is the lender and the debenture holder who is the borrower. The relationship that exists between the bank and the debenture holder is that of a pledgor and a pledgee. And the pledge document is the certificate of debentures held by the pledgor.

The agreement provides some of the details of the debenture pledge such as debenture certificate numbers that have been pledged, face value of debentures, name of the company who has issued the debentures, maturity date of the debentures, percentage of loan that has been offered to the pledgor, personal details of pledgor, percentage of interest chargeable on the loan, date of loan maturity, date of issuance of loan etc. The debentures are physically handed over by the pledgor to the pledgee that is the bank for availing loan against it.

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