Sunday, December 4, 2011

Can a Private Limited Company which does not declare any dividend transfer any amount from accumulated profit?

Can a Private Limited Company which does not declare any dividend transfer any amount from accumulated profit to General reserve in a particular year?|||Check the Bylaw of the company to see if there is a provision for the transfer. Otherwise, have the board approve the transfer, write it in the minutes and at the same time, have the board approve the amendment of the company bylaw.

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