Aoa requirement for bonus shares issue
This query is : Resolved
Annpurna Bhardwaj
(Querist)
06 April 2015
I have maintained my AOA as per co. act 1956. and there is no specific clause for issue of bonus share, but "The regulation contained in Table `A' Schedule I to the Companies Act, 1956 shall apply to the Company except in as far as otherwise expressly incorporated in these Articles"-this statement is mentioned in my AOA. As per Co. act 2013 you should have specific clause for isuue for bonus share. But in Act 2013 it is written "No provision in this shall not apply to previous law". HENCE DO I NEED TO AMMEND MY ARTICLE TO ADD SPECIFIC CLAUSE FOR ISSUE OF SHARES OR THE REFERENCE TO THE TABLE A IS SUFFICIENT?
CS Mitesh Mehta
(Expert)
06 April 2015
For the purpose of capitalizing profits or reserves for issuing fully paid up bonus shares, authorization in articles is required
Message likes :
1 times
Annpurna Bhardwaj
(Querist)
06 April 2015
Thanx for your reply sir, but doesnt reference to Table A will work? as regulation 96 & 97 of Table A state about capitalisation only?
CS Mitesh Mehta
(Expert)
06 April 2015
No.
You need to have specific clause in AOA.
You need to have specific clause in AOA.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
