Surya Ltd. is engaged in the manufacture of consumer goods and has got a good brand value. Over the years, it has built a good reputation, and its Balance Sheet as of March 31, 2019, shows the following position: Authorized Share Capital (25,00,000 equity shares of the face value of 10/- each) 2,50,00,000 Issued, subscribed, and paid-up capital (10,00,000 equity shares of the face value of '10/- each, fully paid up) 1,00,00,000 Free Reserves 3,00,00,000 The Board of Directors are proposing to declare a bonus issue of 1 share for every 2 shares held by the existing shareholders. The Board wants to know the conditions and the manner of issuing bonus shares under the provisions of the Companies Act, 2013. Discuss.