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Oversubscription of Debentures

On 1st April,...

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On 1st April, 2016, following were the balances of Blue Bird Ltd.:

10% Debentures (redeemable on 30th September, 2017) ₹ 15,00,000

Debentures Redemption Reserve ₹ 2,00,000

The company met the requirements of the Companies Act, 2013 regarding Debentures Redemption Reserve and Investment and redeemed the debentures.
Pass necessary Journal entries for the above transactions in the books of the company.

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