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Under the Companies Act, 2016 ("Act"), a bonus issue can be undertaken
either:-
(i) by way of capitalisation of the retained earnings/ accumulated profits
of a company; or
(ii) without capitalisation, where a company may issue and allot the bonus
shares at nil consideration.
In view of the above, the Board has resolved that the implementation of the
Proposed Bonus Issue of Shares shall be undertaken without any capitalisation
from the reserves of the Company and that the Bonus Share