TaxTMI 
TaxTMI 
GUIDELINES FOR BONUS ISSUES
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....similar benefit is extended to the holders of such FCDs/PCDs, through reservation of shares in proportion to such convertible part of FCDs or PCDs. (b) The shares so reserved may be issued at the time of conversion(s) of such debentures on the same terms on which the bonus issues were made. 15.1.2 The bonus issue shall be made out of free reserves built out of the genuine profits or share premiu....
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....isation of profits or reserves for making bonus issue as per the Articles of Association, shall implement bonus issue within fifteen days from the date of approval of the issue by the board of directors of the company and shall not have the option of changing the decision.) 2(Provided where the company is required to seek shareholders' approval for capitalisation of profits or reserves for making....
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....icate duly signed by the issuer company and counter signed by statutory auditor or by Company Secretary in practice to the effect that the provision of clause 15.1.1 to 15.1.9 have been complied with shall be forwarded to the Board. ********* 1 Substituted vide SEBI Circular No. SEBI/CFD/DIL/DIP/34/2009/24/09 dated February 24, 2009, for the following: "A company which announces its bonus issue....