On 1st April, 2023, GI Ltd. issued 40,000, 12% debentures of  ₹100 each at a premium of 10%, redeemable at par after five years. The company closes its books on  31st March every year. Interest on debentures is payable half-yearly on  30th September and  31st March every year.

Marks-4, CBSE: 2024-25/Zone-5/Set-1/Q-21