Board Meeting Corporate For Bonus Issue In Suffolk
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FAQ
Procedure of issue of Bonus issue: Call a Board Meeting to consider. increase in authorized capital (if required), issue of bonus shares and. for taking necessary steps in that regard to convening the General Meeting, to pass an Ordinary or Special Resolution, if articles so require.
➢ Convene EGM and obtain the consent of the shareholders through an Ordinary Resolution for issue of Bonus Shares. ➢ File MGT-14 within 30 days from the date of passing the ordinary resolution for the issue of Bonus Shares.
The following are the steps to be adhered by the company for the issue of Bonus shares. Call a Board Meeting: The first step to be taken is to call for a Board Meeting. As per Section 173(3) of the Act, the issue of the notice must be at least 7 days before the Board Meeting.
As per Regulation 295(1) of the ICDR Regulations, bonus issues must be implemented within 15 days of board approval. SEBI defines the implementation date as when the trading of bonus issues commences.
