Rule 3 of companies (declaration of payment and dividends) rules, 2014
This query is : Open
11 June 2017
when we check balance reserves after withdrawal has to be more than or equal to 15% of paid up capital, is it free reserves we need to keep above or equal to 15 percentage of paid up capital or just reserves?
11 June 2017
Free reserves only because sub rile 4 ,which speaks about this restriction ,is a continuation of sub rule(2) wherein the words used is 'free reserves'.
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