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Question
Credit Access Grameen Ltd., a listed NBFC - MFI (Micro Finance Institution), is all set to enter the bond market next week to raise up to ₹ 1,000 crore in non-convertible debentures, as it looks to diversify its liability profile.
According to the provisions of the Companies Act, 2013, what is the maximum amount of these non-convertible debentures which Credit Access Grameen Ltd. will redeem out of its capital?
Options
₹ 100 crore
₹ 150 crore
₹ 900 crore
₹ 1,000 crore
MCQ
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Solution
₹ 1,000 crore
Explanation:
A listed NBFC-MFI (Micro Finance Institutions) can redeem 100% of its non-convertible debentures out of its capital.
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