Amended and updated notes on section 378ZJ of the Companies Act 2013 as amended by the Companies (Amendment) Act, 2020 and Company Rules made there under. Detail discussion on provisions and rules related to Issue of bonus shares.
Chapter XXIA PART-VI (Section 378ZE to 378ZJ) of the Companies Act 2013 (CA 2013) deals with the provisions related to finance, accounts and audits. Section 378ZJ of CA 2013 provides for Issue of bonus shares.
Recently, we have discussed in detail section 378ZI (General and other reserves) of CA 2013. Today, we learn the provisions of section 378ZJ of the Companies Act 2013.
In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2020 (29 of 2020), the Central Government appoints the 11th February, 2021 as the date on which the provisions of section 52 of the Companies (Amendment) Act, 2020 shall come into force.
Accordingly, the provisions of section 378ZJ are effective from 11th February, 2021. You may refer Notification No. S.O. 644(E) dated 11-02-2021. In this article, you will learn detail of the provisions of section 378ZJ the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXIA (PART-VI) |
| Chapter Name | Finance, Accounts and Audits |
| Section No. | 378ZJ |
| Section Name | Issue of bonus shares |
| Monthly Updated Edition | Company Law PDF |
Section 378ZJ: Issue of bonus shares
Any Producer Company may, upon recommendation of the Board and passing of resolution in the general meeting, issue bonus shares by capitalisation of amounts from general reserves referred to in section 378Z-I in proportion to the shares held by the Members on the date of the issue of such shares.