Bonus issue

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 October 2013 what does this statement mean....
no company shall pending conversion of FCD's/PCD's issue by any way of bonus??

Sanket

Sanket (Expert)
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21 October 2013 No Company shall, pending conversion of fully
convertible debentures/partly convertible
debentures, issue any shares by way of bonus
unless similar benefit is extended to the holders
of such fully convertible debentures/partly
convertible debentures through reservation of
shares in proportion to such convertible part of
fully convertible debentures/partly convertible
debentures. The shares so reserved may be
issued at the time of conversion(s) of such
debentures on the same times on which bonus
issues were made to shareholders.