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Securities Premium as reduction of capital
If company issue bonus shares through securities premium a/c then Provision of Section 66 Applied ?
Replies (4)
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
read section 52... utilisation of securities premium
bonus shares are allowed to be issued through sp and therefore it will not amount to capital reduction
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