08. When 1000 10% debentures of Rs. 100 each are issued at a discount of 10% redeemable at a premium of 20%, 10% debenture account will be credited by: 1
(a) Rs.90,000
(b) Rs. 1,00,000
(Rs.1,20,000
(d) Rs.1,30,000
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According to section 74(4) of the Company's Act, 2013 and Rule 18(7) of the Companies (Share Capital and Debentures) Rules, 2014, a Company is required to transfer an amount equal to at least 25% of the value of debentures to the Debenture Redemption Reserve a/c before redemption of debentures.
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