Can accumulated losses of a company be set off or adjusted from the Securities Premium Account or the Revaluation Reserve Account?
Rajiv Lall (Advocate) 15 November 2009
Can accumulated losses of a company be set off or adjusted from the Securities Premium Account or the Revaluation Reserve Account?
M. N. Agrawal (N.A.) 15 November 2009
PC Agrawal (PCS) 28 December 2009
Section 78 of Companies Act 1956 prohibits adjustment of Securities Premium Account against accumulated losses.
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