bonus issue

This query is : Resolved

viveka (Querist)
Follow

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)
Follow

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.

Message likes : 1 times

viveka

viveka (Querist)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

saurabh sawlani

atul kumar soni

office docs

Sreekumar J Pai

MURALIKRISHNA EDDANAPUDI

Subscribe Now

bonus issue

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA