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First proviso to section 123(5) of company act 2013

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(Querist)
20 December 2014 As per First Proviso to Section 123(5) of company act 2013, Whether It is allowed to capitalized the profit or reserve of a company for the purpose of issuing fully paid bonus share or paying up any amount for unpaid on any share held by the members of the company ????
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
22 December 2014 The Company shall not issue Bonus Shares by capitalizing reserve created out revaluation of Assets
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