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Can Bonus Equity Shares be Issued to??

This query is : Resolved 
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(Querist)
14 January 2009 Can Bonus Equity Shares be Issued to
the Preference Shareholders??
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KAAPIL

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KAAPIL (Expert)
14 January 2009 In this case if AOA is silent then bonus shares can be issued to Preference Shareholders only after issuing them to equity.
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CS. Ashish Shah

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CS. Ashish Shah (Expert)
18 February 2009 No

Bonus Equity Shares can not be issued to the Preference Shares, because they carry a preference right to Dividend and on dissolution in the capital.
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KAAPIL

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KAAPIL (Expert)
17 March 2009 I disagree. AOA can state the things.
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