TMI BlogIssue of bonus sharesX X X X Extracts X X X X X X X X Extracts X X X X ..... edemption reserve account: Provided that no issue of bonus shares shall be made by capitalising reserves created by the revaluation of assets. (2) No company shall capitalise its profits or reserves for the purpose of issuing fully paid-up bonus shares under sub-section (1), unless- ( a ) it is authorised by its articles; ( b ) it has, on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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