A query- Can a private limited company give dividend out of General Reserve?
1 Replies
Anil
(1638 Points)
Replied 11 March 2008
U/s 205A(3) of Companies Act, a company (whether public or pvt. ) can declare dividends out of past profits kept in reserves only if either:
1) it complies with Companies(Declaration of dividend out of Reserves) Rules,1975 or
2)when the above rules are not complied with, with the previous approval of the Central Govt.
1) it complies with Companies(Declaration of dividend out of Reserves) Rules,1975 or
2)when the above rules are not complied with, with the previous approval of the Central Govt.
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