under Section 43B based on the issue of debentures
15:17:45 IST
Reason:
1
in lieu of interest accrued and payable to financial institutions ... Officer rejected the
Appellant’s contention by holding that the issuance of debentures was
not as per the original terms and conditions on which
principle of reasonable
classification. Intelligible differentia
distinguishes the allottees and debenture holders
and security holders covered by the provisos from
the other financial creditors ... Sections 21(6A) and Section 25A of the Code, under
which, the debenture holders and security holders,
on the one hand, and allottees
pursuant to any note purchase facility
or the issue of bonds, notes, debentures, loan stock or any
similar instrument;
(d) the amount of any liability
commission paid or discount allowed on, any issue of shares or debentures of the Corporation; (c) in providing for the premium payable on the redemption ... redeemable preference shares or of any debentures or of any securities of the Corporation; or (d) for the purchase of its own shares or other
providing for any known liability".
3. The nature of a Debenture Redemption Reserve (DRR) has been
considered by the judgment of the Supreme Court ... known liability cannot be regarded as reserve". Where a company
issues debentures, the liability to repay arises the moment the
money is borrowed
Script Stories Media 0% 54,99,74,000
P. Ltd debenture
3. Cinestaan Film 0% 30,00,00,000
Company P. Ltd. debenture
has become ... Script Stories Media 0% 90,00,00,000
P. Ltd. subsequently debenture
allotted application
on06.05.2015 money
ii. It is clear that
Dcit, New Delhi vs M/S. Paramount Communication Pvt. ... on 15 June, 2021
IN THE
monies amounting
to Rs.673 crores against issuance of Compulsorily Convertible
Debentures (hereinafter referred to as "CC1amed the assessment
order without making any addition ... shares. The assessee company issued
and allotted zero percent compulsory convertible debentures (CCDs) of
` 673,00,000, at a face value of ₹ 10 each
crores, would be
invested, by way of debentures. As per the tenets of the 'SSHA', the investors
were entitled to nominate three directors ... Corporate Debtor, apart from 49.50 Crores funded to the Corporate Debtor
through Debentures. By this stake, the Respondent No.1 Company had two
nominee Directors
much of the assets of the Corporation as consist of shares, debentures and other securities have been sold at a price less than that
