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Detailed-Activity-Schedule-for-Bonus-Issue-of-Equity-Shares-Key-Milestones-and-Compliance-Timeline
Detailed-Activity-Schedule-for-Bonus-Issue-of-Equity-Shares-Key-Milestones-and-Compliance-Timeline
Introduction
The process of issuing bonus shares is a significant corporate action that involves a series of meticulous steps to ensure compliance with regulatory requirements and proper communication with stakeholders. This document outlines the detailed activity schedule for the bonus issue of equity shares by the Company. The schedule provides a structured timeline of key milestones and compliance requirements, starting from the initial intimation to the Stock Exchanges through to the receipt of trading approval.
This comprehensive timeline is designed to guide the Company's management and relevant departments through each stage of the bonus issue process, ensuring all regulatory obligations are met and shareholders are informed effectively. The schedule includes critical dates, documentation requirements, and compliance tasks, emphasizing the importance of timely execution to avoid penalties and ensure a smooth issuance of bonus shares.
By adhering to this schedule, the Company aims to facilitate a transparent and efficient bonus issue process, reinforcing its commitment to corporate governance and shareholder value.
Timeline
|
S.NO. |
X + No of Days |
Course of Action |
Tentative Timeline |
Remarks |
Documents |
|
1 |
X + 0 Days |
Intimation to the Stock Exchanges about the Board Meeting to consider the proposal of Bonus Issue of Equity Shares |
Tuesday, August 27, 2024 |
Insider Trading window to remain closed. |
Prior Intimation & XBRL |
|
2 |
X + 4 Days |
Board Meeting to consider and approve the following: |
Saturday, August 31, 2024 |
|
1. Board Meeting Outcome |
|
(a) |
X + 4 Days |
Increase in Authorised Share Capital |
|
A bonus issue, once announced, cannot be withdrawn. Regulation 295(2) of ICDR |
|
|
(b) |
X + 4 Days |
Bonus Issue of Equity shares |
|
|
|
|
(c) |
X + 4 Days |
Fixation of Record Date and intimation thereof to BSE & NSE, NSDL, CDSL & RTA about fixation of Record Date for Bonus Shares |
|
|
|
|
(d) |
X + 4 Days |
Formation of Bonus Issue Committee |
|
|
|
|
3 |
X + 4 Days |
Outcome of the Board Meeting to the Stock Exchange (NSE & BSE) |
Saturday, August 31, 2024 |
Within 30 minutes of the closure of the meeting. |
|
|
4 |
X + 5 Days |
Newspaper Publication of Record Date & informing Shareholders to get their Shares Dematerialized |
Sunday, September 01, 2024 |
|
Draft shared and vetted by RTA |
|
5 |
X + 6 Days |
Completion of dispatch thereof to the Shareholders, Stock Exchanges, Directors, etc. |
Monday, September 02, 2024 |
Generation of EVSN on the same day |
Shareholders Resolution & Explanatory Statement regarding the issuance of Bonus Shares |
|
6 |
X + 7 Days |
Newspaper Publication for e-voting |
Tuesday, September 03, 2024 |
Copy to be uploaded on NSE & BSE website |
Newspaper Advertisement |
|
7 |
X + 8 Days |
Application for In Principle Approval (Regulation 28 of SEBI Listing Regulations) |
Wednesday, September 04, 2024 |
Furnishing of Shareholders' Notice is a prerequisite |
NSE & BSE's In Principle Applications & XBRL's |
|
8 |
X + 12 Days |
Opening of Demat Suspense Account |
|
Company to open Demat Suspense Account before the Record Date and provide details to RTA |
|
|
9 |
X + 12 Days |
Opening of Demat Account cum Trading Account - Fractional Shares |
|
Company to open Demat Account cum Trading Account for credit of Fractional Shares |
|
|
10 |
X + 27 Days |
Start of E-voting |
Sunday, September 22, 2024 |
|
|
|
11 |
X + 29 Days |
End of E-voting |
Tuesday, September 24, 2024 |
|
|
|
12 |
X + 30 Days |
Conduct of Annual General Meeting |
Wednesday, September 25, 2024 |
|
|
|
13 |
X + 34 Days |
Disclosure of consolidated Voting Results to Exchange |
Friday, September 27, 2024 |
|
|
|
14 |
X + 34 Days |
Receipt of In-Principle Approval by NSE |
Friday, September 27, 2024 |
On furnishing of shareholders resolution |
To be furnished to Stock Exchanges for obtaining In-Principle Approval |
|
15 |
X + 41 Days |
Record Date |
Monday, October 07, 2024 |
Minimum 5 WD gap to be there between GM and RD |
RTA to provide NSDL/CDSL CAF Fees |
|
16 |
X + 42 Days |
Receipt of Bonus Allotment Register & allotment summary Pre & Post Bonus SHP in Reg 31 format |
Tuesday, October 08, 2024 |
|
RTA to provide |
|
17 |
X + 42 Days |
Conduct a Board/Committee Meeting for allotment of Bonus Equity Shares |
Tuesday, October 08, 2024 |
Allotment can be done at a duly authorized Committee meeting as well |
Draft Meeting Outcome & Resolution |
|
18 |
X + 42 Days |
Intimation of the outcome of the Board Meeting to the Stock Exchange, RTA & Depository |
Tuesday, October 08, 2024 |
Within 30 minutes of the closure of the meeting |
|
|
19 |
X + 42 Days |
Issuance of Allotment Advice to the shareholders |
Tuesday, October 08, 2024 |
|
RTA to share the Draft |
|
20 |
X + 42 Days |
Application for Listing of Equity Shares with the Stock Exchanges |
Tuesday, October 08, 2024 |
|
NSE & BSE's Listing Application along with XBRL's |
|
21 |
X + 49 Days |
Receipt of Listing Approval from all the stock exchanges where company is listed |
Tuesday, October 15, 2024 |
|
|
|
22 |
X + 49 Days |
Application to NSDL, CDSL & RTA for corporate action for credit of shares |
Tuesday, October 15, 2024 |
RTA to provide the Corporate Action papers along with fee structure |
RTA to provide the Corporate Action papers along with fee structure |
|
23 |
X + 54 Days |
Receipt of Capital admission from both NSDL & CDSL (for credit and rejected cases) |
Monday, October 21, 2024 |
Corporate Action for credit & rejected cases |
|
|
24 |
X + 54 Days |
Filing of documents for seeking Trading Approval |
Monday, October 21, 2024 |
|
Trading Application |
|
25 |
X + 55 Days |
Receipt of Trading Approval |
Tuesday, October 22, 2024 |
Bonus Issue to be completed within 60 days from the date of announcement in Board meeting till receipt of Trading Approval |
|
|
26 |
X + 29 Days |
Compliance Requirement |
|
|
|
|
(a) |
X + 33 Days |
Filing of Form MGT-14 with ROC (In terms of Section 117(1) of the Companies Act, 2013) |
Sunday, September 29, 2024 |
Within 30 days from the Board meeting wherein Bonus issue was approved |
To be filed by the Company |
|
(b) |
X + 43 Days |
Filing of Shareholding Pattern with BSE & NSE in XBRL under Reg 31(1)(c) of LODR |
Friday, October 18, 2024 |
Within 10 days from the date of allotment |
To be filed by the Company |
|
(c) |
X + 37 Days |
Disclosure by Designated Persons under Reg 7(2) of Insider Trading Regulations |
Thursday, October 10, 2024 |
Within 2 WD from the Date of allotment (Not required if SDD compliance is done) |
To be filed by the Company if SDD compliance not done |
|
(d) |
X + 56 Days |
Filing of FC-GPR to RBI in case of issuance of Bonus Shares to PROI |
Wednesday, November 06, 2024 |
Within 30 days of allotment |
To be filed by the Company if Bonus Issue is made to any PROI |
|
(e) |
X + 56 Days |
Filing of Form PAS-3 with ROC |
Wednesday, November 06, 2024 |
Within 30 days of allotment |
To be filed by the Company |
|
(f) |
X + 41 Days |
Filing of Form SH-7 with ROC |
Saturday, October 26, 2024 |
Within 30 days of Shareholders' approval |
To be filed by the Company |
Conclusion
The successful execution of a bonus issue requires careful planning and adherence to a well-defined schedule to ensure compliance with regulatory requirements and to maintain transparency with stakeholders. The detailed activity schedule outlined for the bonus issue of equity shares by the Company serves as a roadmap for managing this complex process efficiently.
Timely completion of each step, from the initial intimation to the Stock Exchanges to the receipt of trading approval, is crucial to avoid delays and potential penalties. By following this structured timeline, the Company can effectively manage its bonus issue, meet all regulatory obligations, and uphold its commitment to good corporate governance and shareholder satisfaction.
The adherence to this schedule will not only facilitate a smooth bonus issue process but also enhance the Company’s reputation for transparency and diligence in managing shareholder interests.
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Article Compiled by:-
~Mayank Garg
+91 9582627751
(LegalMantra.net Team)
Disclaimer: Every effort has been made to avoid errors or omissions in this material in spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition In no event the author shall be liable for any direct indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information Many sources have been considered including Newspapers, Journals, Bare Acts, Case Materials , Charted Secretary, Research Papers etc.