A co. Wants to issue bonus shares.
Free Reserve : 50cr
SPR:20cr
CRR: 50 cr.
Co.wants to issue 5cr bonus shares of 10each. And also co. Wants to not let the money out of pockets of the co. For that year (i.e. dividend or any other purpose) , so as law has not told us the priority of using money (#63 (1)) .. so can we stop the money to go out by using free reserves firstly? Or
#63 (3) would not let it happen for dividend?
CAclubindia
