Cs executive programme module-ii

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abc (Querist)
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19 December 2011 If a Bonus Issue is approved by the Board of Directors,within how many days/months,the issue should be implemented?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 December 2011 A listed company which announces bonus issue after the approval of Board of directors and does not require shareholders’ approval for capitalisation of profits or reserves for making bonus issue, shall implement bonus issue within fifteen days from the date of approval of the issue by the Board of directors of the company and shall not have the option of changing the decision. If company is required to seek shareholders’ approval for capitalisation of profits or reserves for making bonus issue, the bonus issue shall be implemented within two months from the date of the meeting of the Board of directors wherein the decision to announce bonus was taken subject to shareholders’ approval. [Regulation 95 of SEBI (ICDR) Regulations, 2009]

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 December 2011 Within fifteen days from the date of approval of the issue by its board of directors, provided shareholders approval is not required.

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