How are redeemable and irredeemable debentures different in respect of treatement?

As per the Revised Schedule VI of the Companies Act, 1956, Debentures (whether redeemable or irredeemable) are shown on the Liabilities side of the Balance Sheet under the head Long Term Borrowings. The basic difference between redeemable and irredeemable debentures is that, the redeemable debentures are paid off after the expiry of the term for which they were issued, whereas, irredeemable debentures are not redeemed (paid off) during the company's lifetime and hence will be repaid only in the event of company's liquidation.