Tax Law

Zaheer Mauritius Vs. Director of Income Tax

WHAT IS COMPULSORILY CONVERTIBLE DEBENTURE (CCD)? A debenture indisputably creates and recognizes the existence of a debt and till it is discharged, either by payment or by conversion, the debenture would essentially represent a debt. A Compulsorily Convertible Debenture is a debt which is compulsorily liable to be discharged by conversion into equity. Any amount payable by the issuer…