https://www.taxtmi.com/acts?id=35968 Bonus share issuance must reserve proportionate shares for holders of convertible debentures to be issued on conversion on the same terms, and must be capitalised only from free reserves arising from genuine profits or share premium collected in cash; revaluation reserves are excluded. Bonus issues cannot substitute dividends, require partly-paid shares to be fully paid, preclude companies in default on deposits or debentures or with unresolved employee statutory dues, and mandate board approval, timely implementation, requisite amendments to articles, authorised capital increase if necessary, and a compliance certificate countersigned by the auditor or practising company secretary. en-us Wed, 06 Feb 2019 17:57:02 +0530 Wed, 06 Feb 2019 17:57:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=35968 Bonus share issuance must reserve proportionate shares for holders of convertible debentures to be issued on conversion on the same terms, and must be capitalised only from free reserves arising from genuine profits or share premium collected in cash; revaluation reserves are excluded. Bonus issues cannot substitute dividends, require partly-paid shares to be fully paid, preclude companies in default on deposits or debentures or with unresolved employee statutory dues, and mandate board approval, timely implementation, requisite amendments to articles, authorised capital increase if necessary, and a compliance certificate countersigned by the auditor or practising company secretary. Act-Rules SEBI Wed, 06 Feb 2019 17:57:02 +0530 https://www.taxtmi.com/acts?id=35968