When is vesting of bonus shares takes place ?
By -PRIYA AGARWAL 23 Jul 2016

In my view the vesting of Bonus shares takes place from the date specified by the Company and not from the date of allotment. Only those persons become entitled to bonus shares after the shareholders resolution whose names are mentioned in the register of members on the date specified by the Board of Directors as the cut-off date. A shareholder who has transferred his shares and his name accordingly removed from the register of members before the cut-off date may not be entitled to participate in the bonus issue. Re: Rajiv Nag v. Quality Assurance Institute (India) Ltd.