Can development rebate reserve,share forfeiture acc be used for redemption of debentures
Can development rebate reserve,share forfeiture acc be used for redemption of debentures
No technically as the drr requires a portion of profits to be transferred to its account to repay liabilities.
Yes you can use share forfeiture reserve as this amount cannot be claimed by shareholders.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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