Dividend declaration restrictions require setting off carried forward losses and unprovided depreciation against current year profits before dividends. The amendment inserts a proviso prohibiting a company from declaring dividends unless carried forward losses and depreciation not provided in prior year(s) are set off against the current year's profits.
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.
Dividend declaration restrictions require setting off carried forward losses and unprovided depreciation against current year profits before dividends.
The amendment inserts a proviso prohibiting a company from declaring dividends unless carried forward losses and depreciation not provided in prior year(s) are set off against the current year's profits.
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