Question
Which of the following is a non-current liability?
Solution
Under Schedule III of the Companies Act, 2013, liabilities are classified as Non-Current if they do not meet the criteria for a current liability. A liability is "non-current" if it is expected to be settled beyond 12 months from the reporting date or beyond the duration of the normal operating cycle. Since the debentures mentioned are repayable after 5 years, they represent a long-term obligation of the company.Â
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