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Securities Premium as reduction of capital

Chirag (Professional) (1979 Points)

02 March 2018

If company issue bonus shares through securities premium a/c then Provision of Section 66 Applied ?

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4 Replies

Shlok Avlani (25 Points)
Replied 03 March 2018

provision of section 66 is applicable only on the reduction of share capital of the company,issue of bonus shares from securities premium does not lead to reduction in share capital ,instead it capitalises the amt. in the sp a/c into fully paid bonus equity shares

Navin Agarwal (354 Points)
Replied 03 March 2018

read section 52... utilisation of securities premium

Navin Agarwal (354 Points)
Replied 03 March 2018

bonus shares are allowed to be issued through sp and therefore it will not amount to capital reduction

Priya Kashyap (Student) (7048 Points)
Replied 07 April 2019

yeah batter with shlok

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