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Dividend declaration in case of loss

This query is : Resolved 
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(Querist)
23 August 2014 Dear Sir,

I want to know that as per section 205 of the companies act, 1956 there is requiremnt of transfer of certain amount in percentage to general reserve out of current profit before providing for dividend.

But what is the process if company has made loss in the current year and it does not have current profit, however company wishes to provide for dividend out of its accumulated profit.


Please reply !!

Its Urgent!!


With Regards
Dhiraj Kumar
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 August 2014 See Rule 8.1 Companies Act 2013.
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