Capitalisation

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ot;profits carried to reserve do not cease to be profits unless and until they are effectually capitalised". Says the learned author at page 912 after referring to article 128 corresponding to regulation 96 of Table "A" of the Indian Companies Act : "A company may, if its constitution so allows, capitalize profits, instead of dividing them, by applying them in paying up uniss .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he bonus, and the shares are referred to as bonus shares. "Lord Herschell in the case of Ann Bouch and William Bouch v. William Bouch Sproule was considering as to what was the nature and substance of the transaction in question in that case. The learned and noble Lord said at page 398 : "I think we must look both at the substance and form of the transaction .................. And it w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X