Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994 - Insertion of rule 23 - GSR 598(E), - Companies Law

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Rounding of dividend and interest to nearest rupee allowed; fractional paise to be rounded up or ignored accordingly. Rule 23 authorises rounding of amounts payable as dividend to shareholders and interest to debenture-holders under the Companies Act, 1956 to the nearest rupee: fractional paise of fifty paise or more shall be increased to one rupee, and fractional paise less than fifty paise shall be ignored.

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.

Rounding of dividend and interest to nearest rupee allowed; fractional paise to be rounded up or ignored accordingly.

Rule 23 authorises rounding of amounts payable as dividend to shareholders and interest to debenture-holders under the Companies Act, 1956 to the nearest rupee: fractional paise of fifty paise or more shall be increased to one rupee, and fractional paise less than fifty paise shall be ignored.

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Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994 - Insertion of rule 23 - GSR 598(E), - Companies Law

Rounding of dividend and interest to nearest rupee allowed; fractional paise to be rounded up or ignored accordingly.

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Rounding of dividend and interest to nearest rupee allowed; fractional paise to be rounded up or ignored accordingly.

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