Following is the summarized Balance Sheets of Z Limited as on 31st March, 2024: Particulars (₹) EQUITY AND LIABILITIES: Share Capital Equity shares of ₹ 100 each 60,00,000 8% Preference shares of ₹ 100 each 21,00,000 10% Debentures of ₹ 100 each 18,00,000 Trade Payables 16,80,000 Total 1,15,80,000 ASSETS: Goodwill 81,000 Property, Plant and Equipment 72,00,000 Trade Receivables 13,75,000 Inventories 9,80,000 Cash at Bank 1,33,000 Own Debentures (Nominal value of ₹6 lakhs) 5,76,000 Profit and Loss A/c 12,35,000 Total 1,15,80,000 On 1st April, 2024, court approved the following reconstruction scheme for Z Limited: (i) Each equity share shall be sub-divided into 10 equity shares of ₹ 10 each fully paid up. After sub-division, equity share capital will be reduced by 40%. (ii) Preference share dividends are in arrear for last 4 years. Preference shareholders agreed to waive 75% of their dividend claim and accept payment for the balance. (iii) Own debentures of ₹2,40,000 (nominal value) were sold at 98 cum interest and remaining own debentures were cancelled. (iv) Debenture holders of ₹ 6,00,000 agreed to accept one machinery of book value of 9,00,000 in full settlement. (v) Remaining Property, Plant and Equipment were valued at ₹60,00,000. (vi) Trade Payables, Trade Receivables and Inventories were valued at ₹15,00,000, ₹13,00,000 and ₹9,44,000 respectively. Goodwill and Profit and Loss Account (Debit balance) are to be written off. (vii) Company paid ₹60,000 as penalty to avoid capital commitments of ₹ 12 lakhs. (viii) Interest on 10% Debentures is paid every year on 31st March. You are required to: