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Issue of bonus equity shares to preference shareholders

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(Querist)
14 September 2012 A listed company wants to issue bonus Equity shares to its preference shareholders from Special reserve(not to equity shareholders) Whether it can do so?????
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Amol S Joglekar

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Amol S Joglekar (Expert)
14 September 2012 Need to check the Articles of Association of the concerned company if it has any NEGATIVE resolution passed earlier. Otherwise the company may proceed on doing so .... special resolution in general meeting is MUST
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