https://www.taxtmi.com/acts?id=17360 A company may issue fully paid-up bonus shares by capitalising its free reserves, securities premium account or capital redemption reserve account, but not reserves from asset revaluation. Such issues must be authorised by the articles and by the general meeting on the Board's recommendation, and the company must have no defaults on deposit or debt payments or on employee statutory dues; partly paid-up shares must be made fully paid-up and prescribed conditions complied with. Bonus shares cannot be issued in lieu of dividend. en-us Sat, 02 Mar 2013 11:23:40 +0530 Fri, 28 Nov 2025 17:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17360 A company may issue fully paid-up bonus shares by capitalising its free reserves, securities premium account or capital redemption reserve account, but not reserves from asset revaluation. Such issues must be authorised by the articles and by the general meeting on the Board's recommendation, and the company must have no defaults on deposit or debt payments or on employee statutory dues; partly paid-up shares must be made fully paid-up and prescribed conditions complied with. Bonus shares cannot be issued in lieu of dividend. Act-Rules Companies Law Sat, 02 Mar 2013 11:23:40 +0530 https://www.taxtmi.com/acts?id=17360