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M/s ABC Ltd. desires to issue fully paid up bonus shares. The company have its free reserve, the securities premium account and the capital redemption reserve account. Suggest the sources with their priority?
1.Free reserve 2.The securities Premium Account 3.The Capital Redemption Reserve Account
1.The Capital Redemption Reserve Account 2.The securities Premium Account 3.Free reserve
1.The securities Premium Account 2. The Capital Redemption Reserve Account 3.Free reserve
1.Free reserve 2.The Capital Redemption Reserve Account 3. The securities Premium Account
According to Sec 63. Issue of bonus shares
(1) A company may issue fully paid-up bonus shares to its members, in any manner whatsoever, out of—
(i) its free reserves;
(ii) the securities premium account; or
(iii) the capital redemption reserve account:
Provided that no issue of bonus shares shall be made by capitalising reserves created by the revaluation of assets.
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Kunal Gupta
the correct option should be 2.....plzz check it once
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