Jan Dhan Bank, an All India Financial Institution, had 10,000, 12 % debentures of Rs.100 each,

Question 1

Jan Dhan Bank, an All India Financial Institution, had 10,000, 12 % debentures of Rs.100 each, outstanding as at 31st March, 2017. These debentures were due for redemption on 30th June, 2018. Pass necessary Journal Entries for redemption of debentures. Also, state the amount of Debenture Redemption Reserve to be created for the purpose of redemption.

Question 2

Note: According to Section 71(4) of the Companies Act, 2013 and Rule 18(7)(b) of Companies Rules,2014, an All India Financial Institution is not required to create Debenture Redemption Reserve.

kratos · Answer 1 · 2020-07-17T16:35:02+0000

Note: According to Section 71(4) of the Companies Act, 2013 and Rule 18(7)(b) of Companies Rules,2014, an All India Financial Institution is not required to create Debenture Redemption Reserve.

Jan Dhan Bank, an All India Financial Institution, had 10,000, 12 % debentures of Rs.100 each,

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Jan Dhan Bank, an All India Financial Institution, had 10,000, 12 % debentures of Rs.100 each,

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