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Continuity of Capital Redemption Reserve

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(Querist)
03 March 2010 For how a long a company that has just come out of BIFR continue to show Capital Redemption Reserve? The same was, however, created a long ago.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
03 March 2010 Until you capitalise the same. Ie issue of shares against CRR. Or winding up whichever is earlier.
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Rasesh

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Rasesh (Expert)
03 March 2010 CRR can be utilised for issuing bonus shares.

or else, such reserves can be used to adjusting / writing off expenses or lossess or intangible assets after obtaining approval from members and high court.
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