Debenture Redemption Reserve definition
Examples of Debenture Redemption Reserve in a sentence
The Company shall create and maintain a Debenture Redemption Reserve and credit to the Debenture Redemption Reserve such amounts as required under Law including section 71(4) of the Companies Act, 2013 read with Rule 18(7) of the Companies (Share Capital and Debentures) Rules, 2014, as amended from time to time or any regulations or guidelines issued by SEBI, as applicable.
The Company shall submit to the Trustee a certificate duly certified by the statutory auditors certifying that the Company has transferred suitable sum to the Debenture Redemption Reserve and/or the Debenture Redemption Deposit/Fund at the end of each of financial year as per the Applicable Law.
The Company hereby agrees and undertakes that, if during the currency of these presents, any further guidelines are formulated (or modified or revised) by any Governmental Authority in respect of creation of Debenture Redemption Reserve and investment of the monies lying therein, the Company shall duly abide by such guidelines and execute all such supplemental letters, agreements and deeds of modifications as may be required by the Debenture Holders or the Debenture Trustee.
The Issuer shall submit to the Debenture Trustee (with copies thereof to the Debenture Holders), within 60 (sixty) days from the end of the Financial Year, a certificate duly certified by the statutory auditor of the Company certifying that the provisions of the Act in relation to the maintenance of Debenture Redemption Reserve have been complied with, if Debenture Redemption Reserve is required to be maintained in accordance with Applicable Law.
The Company shall create Debenture Redemption Reserve (DRR) out of its profits before distribution of any dividend and transfer to it suitable amounts in accordance with Government guidelines issued from time to time and in force during the currency of the Debentures.
The Company shall submit to the Trustees a certificate duly certified by the Auditors certifying that the Company has transferred suitable sum to the Debenture Redemption Reserve at the end of each of financial year.
Your Company has maintained Debenture Redemption Reserve (DRR) at ` 75 crore created in financial year 2018-19 pursuant to the provisions of Section 71 of the Companies Act, 2013 read with Rule 18 of the Companies (Share Capital and Debentures) Rules, 2014.
The Company hereby agrees and undertakes that, if during the currency of this presents, any further guidelines are formulated (or modified or revised) by the Central Government or any other authority in respect of creation of Debenture Redemption Reserve the Company shall abide by such guidelines and execute all such supplemental letters, agreements and deeds of modifications as may be required by the Debentureholder(s) / Beneficial Owner(s) or the Trustees.
The Company shall submit to the Trustee a certificate duly certified by the statutory auditors certifying that the Company has transferred suitable sum to the Debenture Redemption Reserve at the end of each of financial year as per the Applicable Law.
At present under Applicable Law, a Debenture Redemption Reserve is not required to be created for the issue of privately placed debentures by non-banking financial companies and banking companies registered with the RBI.