Section 69 of Companies Act 2013

69. Transfer of certain sums to capital redemption reserve account.
1. Where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account and details of such transfer shall be disclosed in the balance sheet.

2.  The capital redemption reserve account may be applied by the company, in paying up unissued shares of the company to be issued to members of the company as fully paid bonus shares.
Share:

0 comments:

Post a Comment

Smart Vidya

Latest Post

Civil Service Preliminary Paper-1 Previous Year Solved Questions for the year 2018

1. Which one of the following best describes the term “Merchant Discount Rate” sometimes seen in news ?   The incentive given by a bank to a...

Followers

No. of Page Views

Contact Form

Name

Email *

Message *

Blog Archive

Search This Blog

Follow by Email