Nothing in sub-section 5 of section 123, shall prohibit the capitalization of profits or reserves of a company for the purpose of 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.
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Please explain this section
Replies (1)
123(5) means a
company may issue fully paid-up bonus shares out of the profits or reserves of the company without any restriction.
company may issue fully paid-up bonus shares out of the profits or reserves of the company without any restriction.
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