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As per SEBI Guidelines an amount equal t...

As per SEBI Guidelines an amount equal to ........ Of the debenture issue must be transferred to Debenture Redemption Reserve before redemption begins.

A

A - 0.25

B

B - 0.8

C

C - 0.5

D

D - 1

Text Solution

Verified by Experts

The correct Answer is:
C
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Nirbhai Chemicals Ltd. Issued RS. 10,00,000 , 6% Debentures of Rs. 50 each at a premium of 8% on 30th june, 2018 redeemable on 30th June, 2019. The issue was fully subcribed. Pass Journal entries for issue and redemption of debentures. How much amount should be transferred. to Debentures Redemption Reserve before redemption of debentures ? Also, state how much amount should be invested in specified securities ?