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Bonus shares out of Revaluation Reserve

This query is : Resolved 
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(Querist)
14 March 2008 Can Bonus shares be issued out of Revaluation Reserve?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
14 March 2008 NO.It will be against the guidelines issued by the ICAI
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
14 March 2008 NO BONUS SHARES CANNOT BE ISSUED AGT REVALUATION RESERVE ,IT CAN BE ISSUED AGT SHARE SECURITY PREMIUM
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R.V.RAO

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R.V.RAO (Expert)
14 March 2008 BONUS SHARES CAN BE ISSUED OUT OF FREE RESERVES ( NOT FROM REVALUATION RESERVES )
OR OUT OF SHARE PREMIUM .
R.V.RAO
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CA J M Pattanayak

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CA J M Pattanayak (Expert)
15 March 2008 Dear Karthik

Bonus shares cannt be issued out of Revaluation Reserve. It can be issued from Free Reserves.
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