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of <h1>Companies Issuing Bonus Shares Must Follow Guidelines: No Convertible Debenture Overlap, Genuine Profits, No Dividend Replacement.</h1> A listed company planning to issue bonus shares must adhere to specific guidelines. It cannot issue bonus shares while convertible debentures are pending unless similar benefits are extended to debenture holders. Bonus issues must derive from genuine profits or cash-collected share premiums, not revalued asset reserves. Bonus shares cannot replace dividends, and any partly-paid shares must be fully paid. The company must not default on financial obligations, including employee statutory dues. Bonus issues require timely implementation post-board approval, with or without shareholder consent, depending on the Articles of Association. Necessary resolutions and compliance certifications must be documented.
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