Surya Ltd. is engaged in the manufacture of consumer goods and has got a good brand...

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Surya Ltd. is engaged in the manufacture of consumer goods and has got a good brand value. Over the years, it has built a good reputation, and its Balance Sheet as of March 31, 2019, shows the following position: Authorized Share Capital (25,00,000 equity shares of the face value of 10/- each) 2,50,00,000 Issued, subscribed, and paid-up capital (10,00,000 equity shares of the face value of '10/- each, fully paid up) 1,00,00,000 Free Reserves 3,00,00,000 The Board of Directors are proposing to declare a bonus issue of 1 share for every 2 shares held by the existing shareholders. The Board wants to know the conditions and the manner of issuing bonus shares under the provisions of the Companies Act, 2013. Discuss. Surya Ltd. is engaged in the manufacture of consumer goods and has got a good brand value. Over the years, it has built a good reputation, and its Balance Sheet as of March 31, 2019, shows the following position: Authorized Share Capital (25,00,000 equity shares of the face value of 10/- each) 2,50,00,000 Issued, subscribed, and paid-up capital (10,00,000 equity shares of the face value of '10/- each, fully paid up) 1,00,00,000 Free Reserves 3,00,00,000 The Board of Directors are proposing to declare a bonus issue of 1 share for every 2 shares held by the existing shareholders. The Board wants to know the conditions and the manner of issuing bonus shares under the provisions of the Companies Act, 2013. Discuss.