# Srcc Ltd. Has Issued on 1st April, 2017, 20,000, 12% Debentures of ₹ 100 Each Redeemable by Draw of Lots as Under: - Accountancy

Short Note

SRCC Ltd. has issued on 1st April, 2017, 20,000, 12% Debentures of ₹ 100 each redeemable by draw of lots as under:
During the year ended on 31st March, 2018        :    15%
During the year ended on 31st March, 2019        :    25%
During the year ended on 31st March, 2020        :    15%
During the year ended on 31st March, 2021        :    25%
During the year ended on 31st March, 2022        :    20%

How much minimum investment should be made by SRCC Ltd. as per Companies Act, 2013 before redemption of debentures? When should it be made?

#### Solution

Amount to be invested in specified securities:

 Year ended on Date of Investment Redeemable Amount Minimum amount of DRI March 31, 2018 On or before 30.04.17 20,00,000××15% = 3,00,000 3,00,000××15% = 45,000 March 31, 2019 On or before 30.04.18 20,00,000××25% = 5,00,000 5,00,000××15% = 75,000 March 31, 2020 On or before 30.04.19 20,00,000××15% = 3,00,000 3,00,000××15% = 45,000 March 31, 2021 On or before 30.04.20 20,00,000××25% = 5,00,000 5,00,000××15% = 75,000 March 31, 2022 On or before 30.04.21 20,00,000××20% = 4,00,000 4,00,000××15% = 60,000
Concept: Meaning of Redemption of Debentures
Is there an error in this question or solution?

#### APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 3 Redemption of Debentures
Exercise | Q 6 | Page 29