Creation of Debenture Redemption Reserve

This query is : Resolved

Guest

Guest (Querist)

31 October 2007 What is the remedy/Legal Implications for a company which has redmmed Debenturs & Pref.Shares without creation of CRR & DRR from auditor's poit of view

KAAPIL

KAAPIL (Expert)
Follow

02 November 2007 Please clarify the implication angle. Eg. From Auditor's point of view he will apply AAS-28 and qualify the report.

Ravikumar.G

Ravikumar.G (Expert)
Follow

08 November 2007 It is a violation of Company Law. When you redeem the shares out of profit if you are not transfer the fund to respective CRR the money which plough back to working capital will deficit.

KAAPIL

KAAPIL (Expert)
Follow

08 November 2007 Thanks.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kopparapu bheemarao

Rajesh Surapaneni

sweta sharma

T Ramachandran

Pratap Kumar De

Subscribe Now

Creation of Debenture Redemption Reserve

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

GST CONSULTANCY

GST CONSULTANT

Accountant