have been invested.
(3) Share Premium Account (cc).
*(2) Investments in
shares, debentures or bonds (showing separately shares fully paid-up and
partly paid ... classes of shares and
showing also in similar details investments in shares, debentures or bonds of
subsidiary companies.
(4) Other Reserves specifying
the nature
Corporation of India in regard to (i) the
issue of Equity linked Debentures; (ii) Repayment of loans
to Indian Financial Institutions; and (iii) the proposal ... result of accepting
the proposal for the issue of Equity linked Debentures would
be that the L.I.C.'s holdings would be reduced
original side of the Bombay High Court,
by the Petitioner, a debenture trustee, to enforce rights that arise out of
a Corporate Guarantee executed ... referred to as “FMO”) invested in
certain equity shares and compulsorily convertible debentures (hereinafter
referred to as the “CCDs”) of Vinca Developer Private Limited (hereinafter
year 1968-89.
On December 10, 1966 a public issue of the debentures
of the appellant company was made. The total value of the
debentures ... with interest at the
rate of 5-3/4% per annum. The debentures were issued at a
discount of 2%, redeemable after 12 years
case of an assessee being a company, the amount of its
debentures, if any, and
(b) in the case of any assessee (including a company ... entitled to
tax exemption for a period of five years. Since debentures and long-term
borrowings do not in any manner represent risk capital
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
India money expended in raising a loan, whether
by means of a debenture or a mortgage and whether you call
it a loan capital ... borrowing by a joint-stock company of money by the issue of
debentures does not amount to an increasing of the capital
of the company
Busi-
ness expenditure--Interest on debentures--Reducing capital
of company by taking over shares and giving debentures to
shareholder--Income of company reduced--Interest ... lacs shares which were held by A
and giving to A instead debentures of the face value of Rs.
50 lacs carrying interest
Extent of.
Companies Act, 1956 : Section 81(5) --'Compulsorily con-
vertible debentures'--Floating charge--Debt equity
ratio--What are--Whether a Company ... deal with its proper-
ty without the permission of debenture holders.
Practice and Procedure: Grant of Interim Orders--Regard
to be had to principles
from investments in England. The company had
issued, in the United Kingdom, debenture stock and the
interest thereon was paid in the United Kingdom ... Schedule D for the years 1928-29 and 1929-30,
the debenture interest was not allowed as a deduction and
certain profits from
