Which of the following statements are true:
Statement 1: Capital reserve can be created out of capital profit.
Statement 2: Reserve capital is uncalled capital which can be called only on the winding up of the company.

Both statements are true

Reserve Capital: A company may reserve a portion of its uncalled capital to be called only in the event of winding up of the company. Such uncalled amount is called ‘Reserve Capital’ of the company. It is available only for the creditors on winding up of the company. The balance, if any, left in the Share-Forfeited Account relating to reissued Shares, should be treated as capital profit and transferred to Capital Reserve Account.