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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Dividend declaration from reserves: permitted only under specified rate, draw and reserve floor conditions with loss set off.</h1> Rule 3 allows dividend declaration from free reserves when annual profits are inadequate, subject to conditions: the dividend rate must not exceed the average rate declared in the three preceding years (with an exception where no dividends were declared in those years); total draw from accumulated profits is capped at one tenth of paid up share capital plus free reserves per the latest audited accounts; withdrawals must first offset current year losses; and post withdrawal reserves must not fall below fifteen per cent of paid up share capital.

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