bonus shares alongwith preferential allotment

jayesh ahire (Querist) 18 February 2010 This query is : Resolved
I want to know if a comapny can make a preferential allotment and also issue bonus shares throught the same Eogm... and what procedure is to be followed in this matter

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Heaven 2011 (Expert) 02 March 2010
No sir it is not possible. Preferential issue is for equity shares, fully/partly convertible debentures or any other financial instruments which would be converted in to equity shares in a later date. But SEBI guidelines provide that no bonus issue shall be made pending conversion any FCD/PCD. You have to obtain seperate approval of the Board and have to implement the same within 6 months from the date of approval.

Regards,

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