Issue of Bonus Shares out of Share Premium

Dear Professional Collegues,

A private ltd company has collected premium in the past from share holders . Further , it is going to offer further shares to existing share holders on a premium.

The premium so collected may be used in the future to issue bonus shares to shareholders.

There are some passive investors who have not subscribed to the further offer shares and they have not paid any premium.

My main question is Whether while issuing bonus shares to the shareholder , shall the company can issue bonus shares only to those who have paid share permium . In other words , the passive investors will be ignored while issuing bonus shares out of share premium.

Is it possible set its own conditions of bonus issue by a private ltd company while issuing bonus shares by getting approval from the members for issuing bonus shares only to those shareholers who have contributed to share premium and can ignore the passive investors who have not paid share premium.

I request the professional collegues to enlighten me on the subject.

Regards,

R.V.Seckar