Rule 23 - Payment of dividend to shareholders and interest to debentureholders. - Companies (Central Government’s) General Rules and Forms, 1956

Payment of dividend to shareholders and interest to debentureholders. [1] [23. The amount of dividend payable to shareholders and the amount of interest payable to debentureholders under the provisions of the Companies Act, 1956 (1 of 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.] ---------------------------------------- Notes:- [1] Inserted by GSR 598(E), dated 28-7-1994.