Debenture Remove Currency
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How to Remove Currency Debenture
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Which companies are exempted from creating debenture redemption reserve?
As per the guidelines of Securities and Exchange Board of India i.e. SEBI ,initially the INFRASTRUCTURE COMPANIES along with the companies issuing debentures with a maturity period of not more than 18 months , Government companies were exempted from creating the debenture redemption reserve.
How do I create a debenture redemption reserve?
the Debenture Redemption Reserve shall be created out of the profits of the company available for payment of dividend;
the company shall create Debenture Redemption Reserve equivalent to at least fifty percent of the amount raised through the debenture issue before debenture redemption commences ''
Is it mandatory to create debenture redemption reserve?
After the companies act 2013, all the companies are required to maintain debenture redemption reserve atleast 25% of the debentures issued. ... For NBFCs registered with RBI,DRR will be value of debenture issued and no DRR is required in case of privately issued debentures.
When should DRR be created?
DRI is created on or before 30th april of the financial year in which the debentures are due for redemption and DRR is created any time before the redemption of debentures. that means DRR cam be created any time before or after the creation of DRI.
Why is DRR transferred to general reserve?
DRR is created out of profits of the company & is debited to the statement of P&L(which means profit is reduced). now at the time of redemption of debentures, DRR is transferred to general reserve to give effect to the earlier reduction in profit.
Is DRR a free reserve?
a. No DRR is required for debentures issued by All India Financial Institutions (AIFIs) regulated by Reserve Bank of India and Banking Companies for both public as well as privately placed debentures. For other FIs within the meaning of Section 4A, DRR will be as applicable to NBFCs registered with RBI.
What is DRR and DRI?
DRI is created on or before 30th april of the financial year in which the debentures are due for redemption and DRR is created any time before the redemption of debentures.
What is DRR account?
A debenture redemption reserve (DRR) is a provision stating that any Indian corporation that issues debentures must create a debenture redemption service in an effort to protect investors from the possibility of a company defaulting.
Can a loss making company issue debentures?
The discount on issue of debentures can be written-off either by debiting it to profit and loss or to securities premium account. The Companies Act, 1956 does not impose any restrictions upon the issue of debentures at a discount.
Can every company allowed to issue debentures?
Yes, a private limited company can issue debentures. The power to issue debentures can be exercised on behalf of the Company as a meeting of the Board under the provisions of Section 179 (3) of the Companies Act, 2013. ... Company can issue secured and unsecured debentures.
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