https://www.taxtmi.com/circulars?id=9791 Section 117C requires companies to create a Debenture Redemption Reserve by crediting adequate amounts from profits annually until debentures are redeemed, to be used exclusively for redemption of the specified series. The obligation arises only from distributable profits; no DRR is required in loss years. Section 117C applies to debentures issued and pending redemption (including pre amendment issues) and to the non convertible portion of convertible debentures. Banking companies and RBI regulated All India Financial Institutions are exempt; differentiated adequacy rules are prescribed for RBI registered NBFCs and for manufacturing and infrastructure companies for public and private placements. en-us Thu, 18 Apr 2002 00:00:00 +0530 Thu, 09 Jun 2011 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9791 Section 117C requires companies to create a Debenture Redemption Reserve by crediting adequate amounts from profits annually until debentures are redeemed, to be used exclusively for redemption of the specified series. The obligation arises only from distributable profits; no DRR is required in loss years. Section 117C applies to debentures issued and pending redemption (including pre amendment issues) and to the non convertible portion of convertible debentures. Banking companies and RBI regulated All India Financial Institutions are exempt; differentiated adequacy rules are prescribed for RBI registered NBFCs and for manufacturing and infrastructure companies for public and private placements. Circulars Companies Law Thu, 18 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9791