Adjustment of current year loss from the general reserves

Yogesh Kumar Chouhan (Company Secretary) (28 Points)

06 June 2016  

The Company having previous year balance in general reserves of Rs.1 crore and have loss in current year of Rs.2.5 crore.

Can the company set-off there current year loss from the general reserves and show only the balance amount as loss in balance sheet.

Please also mentioned the related provisions or rules.

 

thanks & regards