Question
Which type of share is issued by a company to its
existing shareholders without receipt of any consideration from shareholders for issuance of such share?Solution
The issuance of bonus shares is governed by Section 63 of the Companies Act, 2013 .  Nature of Issuance:  Bonus shares are additional , fully paid-up shares given to existing shareholders for free  (without any cash consideration). They are issued in proportion to the shares already held by the shareholder (e.g., a 1:1 bonus issue means one free share for every one share held). Â
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