1. A Ltd.

forfeited 360 shares of INR 10 each, INR 8 called-up, issued at a premium of INR 2 per
share to Sanjay for non-payment of allotment money of INR 5 per share (including premium).
Out of these, 320 shares were re-issued to Amit INR 8 called up for INR 10 per share fully paid up.
Pass necessary journal entries. (5 Marks)

2. Your Company intends to buy back its own shares. What are the restrictions on buy back of own
shares under the Companies Act, 2013 ? (5 marks)

3. What are the provisions regarding creation and adequacy of debenture redemption reserve
(DRR) in each of the following cases: (5 Marks)

(i) All India public financial institutions regulated by Reserve Bank of India and banking
company.
(ii) Non-banking financial institutions registered with the Reserve Bank of India.
(iii) Other companies including manufacturing and infrastructure companies.

4. Vibgyor Ltd. is unaware of the manner and details of presentation of long-term loans and
advances to be given in the balance sheet as per Schedule III of the Companies Act, 2013. Advise
the company with the contents and manner of its disclosure. (5 Marks)

5. Cheer Ltd. is interested in issuing 10,000, 12% debentures of 100 each. You are required to
pass necessary journal entries in each of the following situations :

(a) Issued at 10% discount and redeemable at par

(b) Issued at 5% premium and redeemable at par
(c) Issued at par and redeemable at premium of 5%
(d) Issued at discount of 5% and redeemable at premium of 10%
(e) Issued at premium of 10% and redeemable at premium of 20%. (5 marks)

6. Mention the SEBI guidelines regarding issue of bonus shares. (5 marks)

7. Write a short note on 'lien on shares'. (3 marks)