USE OF SHARE PREMIUM
This query is : Resolved
08 July 2011
Actually my cos. B/s show share premium can use this amount,for issue of Bonus shares to existing shareholders, plz give details as per co.s act provision with section
08 July 2011
Issue of bonus shares by the capitalisation of profits or reserves Proviso to section 205(3) stipulates that profits or reserves of a company may be capitalised by issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any shares held by the members of the company.
09 July 2011
Section 78(2)(a) of the companies act,1956 permits a company to issue fully paid bonus shares out of share premium account.
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