Bonus Issue
All companies with sufficient free reserves, securities premium, or capital redemption reserve. Bonus shares can only be issued out of free reserves built from genuine profits or securities premium. Shareholders' approval via Ordinary Resolution is required.
Raising or restructuring capital changes the shape of your company. Section 63(1) is the line every share movement has to respect. The practical effect: cannot capitalize revaluation reserves for bonus issue. No templates, no guesswork — Fi CTC Generator drafts this correctly in about 3 minutes.
Bonus Issue requires Ordinary Resolution by shareholders. Bonus shares must be fully paid up and cannot be issued in lieu of dividend. Once approved, the company cannot withdraw the bonus issue. Form PAS-3 must be filed within 30 days of allotment.
Section 63, Companies Act 2013; Rule 14
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