Be Capitalised And Distributed - Definition - Law Dictionary Home Dictionary Definition be-capitalised-and-distributed

Definition :

Be capitalised and distributed, The expression 'be capitalised and distributed' in the resolution means 'is hereby capitalised and distributed'. In fact the whole tenor of the resolution shows that the distribution of the bonus shares became effective as from 30th Dec., 1954. If the ordinary shareholders became the owners of the bonus shares on and after Jan. 1, 1955 or on some later date, Shri Gopal Paper Mills v. CIT, (1971) 1 SCR 323: (1970) 2 SCC 80 (85): AIR 1970 SC 1750.