Kusum Steel Industries Ltd. issued 21,000, 712% Debenturs of Rs 100 each on March 31, 2011 redeemable at a premium of 8% on 30th June, 2018. The Board of Directors decided to transfer the required amount to Debentue Redemption Reserve in three equal annual instalments starting with March 31, 2016. Record necessary journal entries regarding issue and redemption of debentures. Ignore entries relating to writing off loss on issue of debentures and interest paid thereon.