bonus issue

This query is : Resolved

viveka (Querist)
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10 November 2010 Dear Sir,

According to the audited financials of 31st Mar 2010, a company is having free cap reserve of say Rs.1cr and as per the unaudited financials of 30th Sep 2010 the company is having cap res of Rs.1.5 crore. Now the company is going for a bonus issue in November and my query is, whether the company can issue bonus for the cap res according to the audited fin of 31st MAr 2010 or whether it can issue bonus for the cap res as per the unaudited fin of 30th Sep 2010.

More specifically:
1. what should be the Bal Sheet date for rekoning the reserves.
2. Is it necessary that reserves shall be as per the audited Bal sheet.

Kindly Advice..

udit sharma

udit sharma (Expert)
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10 November 2010 Hi....

In my opinion:

1. Balance sheet as at 30.09.2010 should be taken into consideration for reckoning the free reserves of the Company, and

2. No u can take the reserves as per the unaudited Balancesheet of the Company as at 30/09/2010 also.

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viveka

viveka (Querist)
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10 November 2010 Dear Sir,

Thank you. is it necessary to state in the resolution the date of balance sheet based on which the reserves are considered for capitalisation.

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