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    Issue of Bonus Shares

    Posted By : KAMAL / Published on : 12-Mar-2022 11:56 AM / View : 80 / Comment : 0
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    Dear All,

    Please confirm whether ordinary resolution is required to be passed for issue of bonus equity shares and whether such ordinary resolution will be required to be filed in e-form MGT-14.

    Section 63 of the Companies Act, 2013 provides that the issue of bonus shares to be approved by the members at the general meeting. Also e-form PAS 3 requires for the SRN of MGT-14 so filed. Both of these do not provide that the resolution should be special resolution. However, the help kit of PAS 3 says that copy of special resolution approving the issue of bonus shares is a mandatory attachment.
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