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diclaration of interim dividend

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(Querist)
18 November 2008 How does the company treat its interim dividend declared and paid during the year if it occurs loss at the end of the financial year? Assuming the company does not have any reserves for the year.
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Deepak Agrawal

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Deepak Agrawal (Expert)
18 November 2008 Once declared, it cannot be reversed.
Auditor has to state in his audit report abt it & reason for the same

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