Dear All
Whether it is required to make provision for Debenture Redemption Reserve , if Compulsory convertible debenture are fully convertible
Thanks
1 Replies
Shekar
(CA & LCS )
(1109 Points)
Replied 04 August 2010
Chaitali,
The DCA Circular clarifies that Section 117C (creation of DRR) will apply only to the non-convertible portion of debentures issued, whether they are fully or partly convertible.
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