Classify debentures from the point of view of redemption.
SOLUTION (i) Redeemable Debentures, (ii) Irredeemable Debentures.
Classify debentures from the point of view of registration.
SOLUTION (i) Registered Debentures, (ii) Bearer Debentures.
Classify debentures from the point of view of security.
SOLUTION (i) Secured Debentures, (ii) Unsecured Debentures.
Give any two characteristics of debenture.
SOLUTION 1. A debenture is issued by a Company in the form of a Certificate, which is a written acknowledgement of debt taken by the Company.2. A debenture is issued…
What is meant by a Debenture?
SOLUTION Debenture is a written instrument issued by the company, given under the seal of the company, acknowledging a debt and containing provisions in respect of repayment of principal and…
Determine the maximum permissible discount which a company can allow at the time of reissue of forfeited shares in the following cases: (i) A share of Rs. 100 originally issued at par on which application and allotment money of Rs. 60 has been received. (ii) A share of Rs. 100 originally issued at a premium of Rs. 20 on which application and allotment money (including premium) of Rs. 60 has been received. (iii) A share of Rs. 100 originally issued at a premium of Rs. 20 on which application and allotment money (excluding premium) of Rs. 60 has been received.
SOLUTION Maximum permissible discount in Case (i) Rs. 60; Case (ii) Rs. 40 and Case (iii)Rs. 60.
Y Ltd. forfeited 100 equity shares of Rs. 10 each for the non-payment of first call of Rs. 2 per share. The final call of Rs. 2 per share was yet to be made. Calculate the maximum amount of discount at which these shares can be re-issued. (C.B.S. E. 2017. Delhi)
SOLUTION Maximum amount of discount which can be allowed on reissue of 100 shares = 100 x 6 = Rs. 600.
A Ltd. forfeited a share of Rs. 100 issued at a premium of 20% for non-payment of first call of Rs. 30 per share and final call of Rs. 10 per share. State the minimum price at which this share can be reissued. (C.B.S.E. Sample Paper. 2017)
SOLUTION Minimum price at which share can be reissued = Rs. 100 – Rs. 60 = Rs. 40.
Nirman Ltd. issued 50,000 equity shares of Rs. 10 each. The amount was payable as follows:
On application Rs. 3 per shareOn allotmentRs. 2 per shareOn first and final callThe Balance Applications for 45,000 shares were received and shares were allotted to all the applicants. Pooja, to…
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