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Nature of statutory reserve

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(Querist)
09 November 2010 Is Statutory reserve created by a NBFC as per RBI Norms a free reserve??
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
09 November 2010 No use of the reserve has been specified in the section. So it could be considered under the head as Other Free Reserves.

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