Query regarding issue of Bonus Shares by Private Company

[gurpreet kaur]

Hello All

 

1. What is the procedure to be followed by a private limited company for issue of bonus shares?

2. Whether a special resolution is necessary or an ordinary resolution would be sufficient in case of a  private company?

 

Waiting for your prompt response.

 

Thanking you in anticipation 
 

With Regards

Gurpreet Kaur

Jaipur

[veena bhat]

What is the procedure to be followed by a private limited company for issue of bonus shares? and Whether a special resolution is necessary or an ordinary resolution would be sufficient in case of a  private company?   (a).      Call the Board Meeting for the purpose;           - To approve the proposal for the bonus issue           - To approve the resolution to be passed at a general meeting           - To approve rquisite resolution for increase the capital and alteration of MOA if it neecessary.   (b).      A general meeting will be convened to pass necessary resolution            Increase the authorised capital Ordinary Resolution            Alteration of Articles of Association Special Resolution            Issuing the Bonus shares Ordinary Resolution   (c)       Within 30 days of the general meeting, file the e-forms to ROC;            e-form No.5 - for Increase in share Capiatal.            e-form No. 23 - for filing the special Resolution.   (d)       Prepare the list of members entitled to the bonus shares.   (e)       Convene the Board meeting for allotment of bonus shares.   (f)       e-form - 2 File return of allotment with ROC within 30 days of allotment.    (f)       Prepare and dispatch the share certificates within three months from the date of allotment.   (g)      Update the Members Register.   Regards, Veena Bhat   --- On Tue, 16/2/10, gurpreet kaur <guree_...@yahoo.com> wrote:

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[Jayashree Chandrasekaran]

Pls check that your Articles authorises issue of bonus shares and also check on the Authorised capital

Jayashree

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[Jeewan]

can u tell me , wether shareholders approval is requred for this or not

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Thanks & Regard

Jeewan

[chaitra s]

hi

 

yes we have to take

[Natesh Kalidevapur]

 Pvt. comp. bonus issue is governed by Articles. check who can issue and allot the bonus shares. if  AOA delegates(Authorises) board, then Board resolution with simple majority will do, other wise i.e no provision exists in AOA pass special resolution and get the shareholders approval  for the same and go ahead with Board resolution for allotment.

with regards

Natesh K
Bsc., LL.B., A.C.S.
Company Secretary

No.287,26th Cross, 9th Main,B.S.K 2nd  Stage, Bangalore-560 070
Phone No. 080-26712017
Mobile No.9740955771

[bhavani prasad]

Friends

Continuing with the Bonus issue query,if a private co wants to issue bonus shares to foreign shareholders do we need to intimate RBI in this regard and what are the requisite approvals in this respect.

CS Bhavani Prasad C N
Company Secretary

[rakesh sudhir]

Dear madam,

 

For the Bonus issue by a private company to a non-resident FEM ( Issue and Transfer of securities by a person resident outside India ) Regulations 2000 is applicable and has to be complied with by filing form FCGPR PART-A with the RBI along with certain attachments. Submitting of this form is nothing but giving intimation about the foreign inward remittances to RBI. Submission of this form is mandatory for all equity and preference issues which may be in the form Bonus issue, Rights issue etc. SHORTLY I WILL FORWARD THE CHECKLIST AS PER OUR PRACTISE. Pls correct if anything wrong.

 

Regards,

Rakesh Sudhir

Essilor India

Bangalore