Dividends Declaration of Transfer to reserves of certain percentage of profits Queries arising from the Companies (Transfer of Profits to Reserves) Rules, 1975 and the Companies (Declaration of Dividend out of Reserves) Rules, 1975 answered

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....d out of Reserves) Rules, 1975 answered<br>Circular No. Circular: No. 20/76 Dated:- 26-7-1976 Circular Dated:- 26-7-1976 Circular<br>Companies Law<br>Circular: No. 20/76 [5/10/76&#8209;CL&#8209;XIV an....

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....o Reserves Rules (as amended by the Amendment Rules, 1976) would be applied in the case of a newly incorporated company in which case no dividends would have been declared over the three years immedia....