Can some one help me in finding out which section in companies act talks about usage of capital reserve ?
Rishikesh
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 17 August 2009
Pl refer to following Sections:
1) Sec.80(5): Capital Redemption Reserve can be used for issue of bonus shares.
2) Sec.80(1): Provisions of reduction of share capital will apply to redemption of preference shares if there is no fresh issue or CRR is not created.
3) Sec.78(2): Use of Securities Premium Account
4) Sec.77A(1)(iii): Use of Securities Premium Account for buy-back of securities.
5) Sec.78(1): Provisions of reduction of share capital will apply to Securities Premium A/c in the given case.
6) Sec.117C: Use of Debenture Redemption Reserve for redemption of debentures only.
7) Para 14.4 of AS-10: Loss on disposal of fixed assets to be charged to Revaluation Reserve Account.
Thanks.
Priti
(Manager)
(27 Points)
Replied 27 January 2010
can i have more clarification on capital reserve. can it be treated as free reserve.
HARSH GOENKA
(MANAGER ACCOUNTS)
(268 Points)
Replied 09 May 2011
keerthi
(Student CA Final )
(26 Points)
Replied 20 September 2013
can i know the reserves used for the redemption of debentures, preference shares and buyback
KALVA DILEEP KUMAR
(STUDENT)
(22 Points)
Replied 18 February 2015
capital reserve used to written off the fixed assets as per part c of companies act 2013
Sanjay Mittal
(1 Points)
Replied 27 September 2016
capital reserve used to written off the fixed assets as per part c of companies act 2013- where it is written specifically, can you pls help
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