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of <h1>New Circular on Debenture Redemption Reserve: Key Requirements for Financial, Manufacturing, and Infrastructure Companies u/s 117C.</h1> The circular from the Department of Company Affairs clarifies the requirements for creating a Debenture Redemption Reserve (DRR) under Section 117C of the Companies Act. It states that no DRR is needed for debentures issued by All India Financial Institutions and Banking Companies, while Non-Banking Financial Companies must maintain a DRR of 50% for public debentures. Manufacturing and infrastructure companies must maintain a DRR of 50% for public issues and 25% for private placements. The circular also applies to debentures issued before December 13, 2000, and addresses both convertible and non-convertible debentures.
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