Creditor by issue of such number of ZIFCD (Zero Interest Fully Convertible Debenture) of the Company each of Rs. 10 fully paid ... whom the company in liquidation has issued Secured Non-Convertible Debentures have been shown in the category of Loan Creditors who are required
difference between the net realisable value and the cost of
non-convertible Debentures of G.S.F.C.) written off amounting ... shown, because in the earlier year,
the assessee had valued non-convertible Debentures of GSFC at the
cost price. The cost price of non-convertible
case, the Appellate Tribunal is right in law that the interest on debentures issued by companies other than local authority, company or corporation established ... references and appeals are as under :
That the assessees had purchased convertible debentures of Ambalal Sara-bhai Enterprises Ltd. (hereinafter referred
right in law in
holding that expenditure on the issue of
convertible debentures is a capital
expenditure?
(2) Whether, in the facts and circumstances ... holding that expenditure on the issue of
non-convertible debentures should be
allowed proportionately in each year over
the period of redemption of the
debentures
debentures and debenture holders.
(d) The balance-sheet of IPC L as on 31.3.2006 also provides separate treatment to debentures. The debentures are not clubbed ... assets over which the secured creditors have charges. The non-convertible debentures are secured by way of first equitable mortgage on the land admeasuring
respect of Rupee Term Loans and Non Convertible Debentures with effect from 01.04.2001 till the Cut-off Date would be converted into 10% Cumulative Redeemable
Part C of CFCDs, which had become 14% Secured redeemable Non-Convertible Debentures (NCD's) of Rs. 105 each in December, 1997, were maturing
become substantive shareholders by converting SITEL's irregularities to them into freely convertible debentures, which thereafter were converted into their equity as provided ... under the compelling circumstances, the former CMD has withdrawn himself from the debentures of the Company and BIFR has forwarded opined for winding
respondent Company approached the applicant to invest in Optionally Fully Convertible Debentures (OFCDs) of face value of Rs. 190 consisting of three parts as follows
Company in liquidation mortgaged by way
of second charge.
Even in the Debenture
Trust Deed dated 18.3.1994 executed by the Company in liquidation in
favour ... redemption by the Company of the 15% secured partly convertible
debenture at the aggregate value of Rs.228 lacs, together with
interest liquidated damages
