Venus Ltd., an unlisted (Non-NBFC/HFC) company, had 9,000, 9% Debenture of ₹ 100 each due for redemption. These debentures are to be redeemed in 3 equal instalments (starting from 31st March, 2021) at a premium of 10%. The Company had a balance of ₹ 25,000 in the Debenture Redemption Reserve.

Pass necessary entries for redemption, of debentures if company transfers the balance of DRR to General Reserve after redeeming all the debentures.

Anurag Pathak Changed status to publish November 4, 2023