Distribution of profits: only net profits distributable; dividends and patronage bonuses governed by society bye laws. Distribution of funds by a Multi State Cooperative Society is restricted to net profits; dividends on paid up share capital and patronage bonuses are to be governed by the society's bye laws, which may also prescribe permissible uses of the reserve fund.
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.
Distribution of profits: only net profits distributable; dividends and patronage bonuses governed by society bye laws.
Distribution of funds by a Multi State Cooperative Society is restricted to net profits; dividends on paid up share capital and patronage bonuses are to be governed by the society's bye laws, which may also prescribe permissible uses of the reserve fund.
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