Bonus issue eligibility: issuers must have corporate authorisation, no payment defaults, employee dues cleared, and no fugitive promoters. A listed issuer may issue bonus shares only if authorised by its articles of association or by a general meeting resolution to capitalise reserves, and after obtaining stock exchange approval for listing and trading of prior securities. The issuer must not have defaulted on fixed deposit or debt obligations, must have discharged employee statutory dues, must make any partly paid shares fully paid-up before allotment, and must not have a promoter or director who is a fugitive economic offender.