Board Meeting , guidelines regarding , prescribed by the Secr

In the case of a 'listed company' j the following additional steps are also to be taken ill respect :
I. To notify the stock exchaDge(s) concerned the date of Board Meeting which r.ill consider the issue of bonus shares and further to notify the Excl langets) of the deisiori m that regard immediately after a formal decision has been taken.
2. To notify the stock exchatlge(s) concerned, at least 42 days in adz ance, regarding the record dates'
. 3. To comply with the "guidelines regarding the issue of bowls shares ' prescribed by the Secr ntres and Exchange B Gard of India. For these guidelines, please refer to the preceding heading
4- To obtain the approval of stock exchange(s) concerned for the procedure to be followed for allotment of bonus shares.
5 To make an apt -I i atti Cal to tile stock exchanges where the conipany's share are listed for permission for listing of the new bonus equity shares.
6. To forward to SEES a certificate duly signed by the issue and duh countersigned bv its statutory auditor or by a company secretary in practice to the effect that the"guidehnesregaEding the issue of bonus shares" prescribed by- SEBI have been compiled with
174 'S: SECRETARIAL PRACTICE
5 The notice must state that failure to pay the amotmt stipulated date will Rosalie the shares liable to forfeiture -I 6 if the calls due are not paid within the stipulated date Directors may adopt a resolution forfeiting the shad the sharers default
7 The shareholders may then be informed..Eegarding the forferm resolution
8 The forfeited shares may either be sold or otherwise disposed of on t elms specified by the Board 9 The Board has a right to cancel the forfeiture
The member, whose shares has been forfeited ceases to be the member the company However, he remains liable to the company for the payment of the unpaid call on the shares as forfeited His liability will cease the moment the company receives full payment of money due on the forfeited shares
11 The company has the potter to reissue these shares and transfer the membership to such a person who has purchased the reissued shares The transferee becomes tl e member on registration of the transfer and on am entry in the Members' Register
12 Any irregularity in the proceedings of forfeiture, sale or disposal of the forfeited Shares do not affect the title of those who have purchased such forfeited shares