https://www.taxtmi.com/article/detailed?id=1319 Declaration of dividend out of reserves permits a company lacking current profits to draw on accumulated past profits transferred to reserves, subject to statutory limits on rate and aggregate drawal, requirement to first apply drawal to set off current year losses before paying any class of shares, exclusion of capital and revaluation reserves from available funds, and maintenance of a prescribed minimum reserve balance; government rules and, where applicable, prior approval govern non conforming declarations, and prescribed forms must be authenticated for filing. en-us Sun, 12 Jun 2011 06:56:30 +0530 Sat, 14 Sep 2013 23:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1319 Declaration of dividend out of reserves permits a company lacking current profits to draw on accumulated past profits transferred to reserves, subject to statutory limits on rate and aggregate drawal, requirement to first apply drawal to set off current year losses before paying any class of shares, exclusion of capital and revaluation reserves from available funds, and maintenance of a prescribed minimum reserve balance; government rules and, where applicable, prior approval govern non conforming declarations, and prescribed forms must be authenticated for filing. Articles Corporate Laws / IBC / SEBI Sun, 12 Jun 2011 06:56:30 +0530 https://www.taxtmi.com/article/detailed?id=1319