Such return shall state the number and nominal amount of shares comprised in such allotment and the names, addresses and occupations of the allottees.[Section 75(1)(c)(i)] If the Bonus shares are issued out of revaluation reserves and for some reason, if the value of the assets gets reduced, then what will be the position of the Bonus shares so allotted.The Act though has made references to bonus issue/shares in its certain sections.Reference may be made to section 205 of the Companies Act, 1956, which provides that dividend could only be paid out of profits. Bonus shares are capital in hands of shareholders and not dividend; bonus shares do not give them an immediate right to a larger amount of the existing assets but simply confer a title to a larger proportion of the surplus assets in the event of winding up. Bonus may also be issued from the reserves created out of revaluation of capital assets The Supreme Court held in case of Bhagwati Developers v Peerless General Finance & Investment Co.Swap Your Kawasaki with A New Engine Repower your Scag, Exmark, Gravely, Toro, Lesco, or other commercial walk-behind mower with a BRAND NEW Briggs and Stratton 17.5 horsepower engine. Pro Green Plus can service all brands of ATV’s including John Deere Gators!
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