P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 14 April 2015
No, it cannot happen.
Transfer of Profit to Reserves Rules were notified u/s 205 of CA 1956 which is no more in force now since corresponding Sec.123 of CA 2013 has been notified.
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