TMI BlogDeclaration of dividend.X X X X Extracts X X X X X X X X Extracts X X X X ..... r providing for depreciation in accordance with the provisions of sub-section (2), or out of the profits of the company for any previous financial year or years arrived at after providing for depreciation in accordance with the provisions of that sub-section and remaining undistributed, or out of both; or (b) out of money provided by the Central Government or a State Govern ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ided also that no dividend shall be declared or paid by a company from its reserves other than free reserves. (2) For the purposes of clause (a) of sub-section (1), depreciation shall be provided in accordance with the provisions of Schedule II. (3) The Board of Directors of a company may declare interim dividend during any financial year out of the surplus in the profit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed shareholder of such share or to his order or to his banker and shall not be payable except in cash: Provided that nothing in this sub-section shall be deemed to prohibit the capitalisation of profits or reserves of a company for the purpose of issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any shares held by the members of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
