Question
Under which conditions can a company declare or pay
dividends for a financial year as per the Companies Act?Solution
Section 123.Declaration of dividend: (1) No dividend shall be declared or paid by a company for any financial year except— (a) out of the profits of the company for that year arrived at after providing for depreciation in accordance with the provisions of sub-section (2), or out of the profits of the company for any previous financial year or years arrived at after providing for depreciation in accordance with the provisions of that sub-section and remaining undistributed, or out of both; Provided that in computing profits any amount representing unrealised gains, notional gains or revaluation of assets and any change in carrying amount of an asset or of a liability on measurement of the asset or the liability at fair value shall be excluded; or (b) out of money provided by the Central Government or a State Government for the payment of dividend by the company in pursuance of a guarantee given by that Government.
In case of___________________ it was held that the object of this provision is to prevent courts of concurrent jurisdiction from simultaneously entertai...
What does the term "asset reconstruction" refer to?
A contract with a minor is void ab initio was held in the landmark case of __________________
Which of the following maxims is not related to the law of Contract?
In computing the period of limitation for filing a suit the day from which the period of limitation is reckoned ______.
Statements made by persons to whom a party to the suit has expressly referred for information in reference to a matter in dispute are.Â
Judges of the High Court are appointed by the
An absconder’s property is sold after how many months after attachment of his property?
...When is a person said to be guilty of the offence of money-laundering as per the Prevention of Money-Laundering Act, 2002?
Who grants recognition to the Stock Exchange, as per SCRA Act?