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Can 'securities premium reserve' be dist...

Can 'securities premium reserve' be distributed as dividend ?

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Amount of securities premium reserve cannot be distributed as dividend. It can only be used for the purposes listed under Section 52 of the Companies Act.
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Pass Journal entries for the following transactions: Green Ltd. Purchased plant and machinery for ₹ 2,00,000 payable by three months post-dated cheque and balance by issue of 6% Debentures of ₹ 100 each at a discount of 10% . The company has balance of ₹ 10,000 in Securities Premium Reserve. It decided to write off Discount from securities from Securities Premium Reserve up to the balance in the account. 1. Number of Debentures issued =(Purchase Price - Cash Payment)/(Issue Price of Debenture) . =(₹ 20,00,000 - ₹ 65,000)/(₹ 100 - ₹ 10) = (₹ 1,35,000)/(₹ 90) = 1,500 Debentures. Post-dated cheque will be recorded in the books of drawer when it is issued.

Pilot Pens Ltd. Issued 5,000, 6% Debentures of ₹ 100 each at a discount of 20%. It had balance in Securities Premium Reserve of ₹ 60,000. It decided to write off the discount from Securites Premium Reserve . Show the Notes to Accounts writing off the Discount on Issue of Debentures .