Question

Which of the statements is correct with respect to a

company that has announced a bonus issue according to Rule 14 of the Companies (Share Capital and Debenture) Rules, 2014?

A Bonus issue can be withdrawn subsequently by taking approval from the Registrar of Companies.

B Bonus issue can be withdrawn subsequently by passing board resolution.

C Bonus issue cannot be withdrawn subsequently.

D Bonus issue can be withdrawn subsequently by taking shareholder's approval.

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Solution