Question

On 1st April, 2011, Y Ltd issued 800 12%
Debentures of 1000 each at par debenture
holders had an option to convert their holdings
into 13% * 25 per share. On 31st March, 2012, one
year's interest had accrued an these debentures
which was not paid. A holder of 50 debentures
notified his intention to convert his holding into
13% preference shares.​

Answer 1

Answer:

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