Section 378ZJ: Issue of bonus Shares
This section allows a Producer Company to issue bonus shares to its members using its general reserves.
The section, clause by clause
What the section says
In plain terms
Any Producer Company may, upon recommendation of the Board and passing of resolution in the general meeting, issue bonus shares by capitalisation of amounts from general reserves referred to in section 378Z-I in proportion to the shares held by the Members on the date of the issue of such shares.
PART VII LOANS TO MEMBERS AND INVESTMENTS
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
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Referred to by
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.