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Export-import Bank of India (Exim Bank) Issued 20,000, 10% Debentures of ₹ 100 Each Through Public Issue and 10,000, - Accountancy

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Export-Import Bank of India (EXIM Bank) issued 20,000, 10% Debentures of ₹ 100 each through public issue and 10,000, 10% Debentures of ₹ 100 each through private placement . State the amount of investment to be made by EXIM Bank before redemption of debentures. 

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Solution

The Companies Act, 2013 exempts Banking Companies to invest in specified securities.

Concept: Meaning of Redemption of Debentures
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APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 3 Redemption of Debentures
Exercise | Q 5 | Page 29
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