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Rajiv Lall (Advocate)     15 November 2009

Accumulated Losses

Can accumulated losses of a company be set off or adjusted from the Securities Premium Account or the Revaluation Reserve Account?



 2 Replies

M. N. Agrawal (N.A.)     15 November 2009

Accumulated losses are to be set off only and against current years losses.

PC Agrawal (Company Secretary)     28 December 2009

Section 78 of Companies Act 1956 prohibits adjustment of Securities Premium Account against accumulated losses.

 

 


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