Rules and Regulations of India

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Section 23 – COMPANIES (CENTRAL GOVERNMENT’S) GENERAL RULES & FORMS

23. Payment of dividend to shareholders and interest to debenture holders

The amount of dividend payable to shareholders and the amount of interest payable to debenture holders under the provisions of the Companies Act, 1956 may be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise, it shall be ignored.]

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