Provisions relating to creation of Debenture Redemption Reserve stand changed
In the Companies (Share Capital and Debentures) Rules 2014 , which was made available on the website of the official gazette on 3rd May 2014, MCA has changed the requirement of creating Debenture Redemption Reserves as opposed to what was mentioned in the final rules issued by it initially. The text of relevant portion under both the rules are mentioned below: Notified Rule: “18 (7) The company shall create a Debenture Redemption Reserve for the purpose of redemption of debentures, in accordance with the conditions given below-