The summarized financial position of Exchange Ltd. as on 31.3.17 stood as follows: Eq. Sh. Cap. (10) 50,00,000 Fixed Assets General Reserve 75,00,000 Deb. Red. Fund Invest Deb. Red. Fund 50,00,000 Cash & Bank 13.5% Convertible Other current assets Deb (100) 1,00,00,000 Other Loans 50,00,000 Current Liab. & Provs 1,25,00,000 1,60,00,000 40,00,000 50,00,000 2,00,00,000 4,50,00,000 4,50,00,000 The Debentures are due for redemption on 1.4.17. The terms of issue of Debentures provided that they were redeemable at a premium of 5% and also conferred option to the Debenture holders to convert 20% of their holding into equity shares at a predetermined price of ? 15.75 per share and the payment in cash. Assuming that: () except for 100 Deb holders holding totally 25,000 Debs., the rest of them exercised the option for maximum conversion. (ii) the investments realise * 44 lakhs on sale; and (II) all the transactions are put through, without any lag on 1.4.17. Redraft the Balance Sheet of the Co. as on 1.4.17 after giving effect to the redemption. Show your calculations in respect of the number of equity shares to be allotted and the cash payment necessary