ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    A company may issue fully paid-up bonus shares to its

    members, in any manner whatsoever, out of-
    A Its free reserves; Correct Answer Incorrect Answer
    B the securities premium account; Correct Answer Incorrect Answer
    C the capital redemption reserve account. Correct Answer Incorrect Answer
    D A and B only. Correct Answer Incorrect Answer
    E A, B and C. Correct Answer Incorrect Answer

    Solution

    As. 63 of the Companies Act, 2013- A company may issue fully paid-up bonus shares to its members , in any manner whatsoever, out ofтАФ (i) its┬а free reserves ; (ii) the securities premium account; or (iii) the capital redemption reserve account: Provided that no issue of bonus shares shall be made by capitalising reserves created by the revaluation of assets. Snapshoot - Topic covered in Live class for SEBI Legal Course of ixamBee

    Practice Next
    More Administrative Interpretation and Maxims Questions

    Relevant for Exams:

    ask-question