SECTION-69 (Transfer of certain sums to capital redemption reserve account) under CHAPTER-IV (Share Capital and Debentures) of the Companies Act, 2013
(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.
(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.
Extra Notes for Readers
(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013).
(2) Section 69 of the Companies Act 2013 was notified by MCA Notification S.O. 2754(E) dated 12th September 2013 (w.e.f. 12th September 2013).
(3) Further, refer the Companies (Share Capital and Debentures) Rules, 2014.
(3) Further, refer the Companies (Share Capital and Debentures) Rules, 2014.
This page was last updated on 9th February, 2017.
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