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Question
Neptune Ltd., an unlisted manufacturing company has to redeem its 3,000, 7% Debentures of ₹ 100 each on 30th September, 2022.
As per the provisions of the Companies Act, 2013, on which date should the company invest in specified securities?
Options
On or before 30th September, 2021
On or before 30th September, 2022
On or before 30th April, 2021
On or before 30th April, 2022
MCQ
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Solution
On or before 30th April, 2022
Explanation:
Every company required to create a Debenture Redemption Reserve must, on or before the 30th day of April each year in which the redemption of debentures is due, invest or deposit at least 15% of the amount of debentures maturing during the year in specified instruments.
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