Question : The amount of Securities Premium Reserve Account is utilised for the purposes specified in Section 52(2) of the Companies Act, 2013. The purposes for which Securities Premium Reserve can be used are:
Option 1:
for writing off preliminary expenses
Option 2: for writing off expenses of, or commission paid or discount allowed on debentures of the company
Option 3: for providing premium payable on the redemption of redeemable preference shares or debentures of the company
Option 4: All of the above
Correct Answer: All of the above
Solution : Answer = All of the above
The Securities Premium Reserve Account, as per Section 52(2) of the Companies Act, 2013, can be utilized for various purposes including writing off preliminary expenses, expenses of debentures, and premiums on the redemption of redeemable preference shares or debentures. Hence, the correct option is 4.
Question : As per Section 52 of Companies Act 2013, Securities Premium Reserve cannot be utilised for ___________.
Question : The sum obtained as a premium on securities cannot be used for the following, according to Section 52(2) of the Companies Act, 2013:
Question : During the year ending on 31st March, 2021 — 20%. What should be the minimum investment or deposit by Universal Ltd. to meet the requirements of the Companies Act, 2013 and Rules before the redemption of debentures and When?
Question : During the year ending on 31st March, 2017 — 15% What should be the minimum investment or deposit by Universal Ltd. to meet the requirements of the Companies Act, 2013 and Rules before the redemption of debentures and When?
Question : During the year ending on 31st March 2018 — 25%What should be the minimum investment or deposit by Universal Ltd. to meet the requirements of the Companies Act, 2013 and Rules before the redemption of debentures and When?
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