Companies Act, 2017
Companies Act, 2017 — section 241
241. Dividend to be paid only out of profits..—Any dividend may be paid by a company either in cash or in kind only out of its profits. Explanation.—The payment of dividend in kind shall only be in the form of shares of listed company held by the distributing company.
This is the text of the provision as enacted. It is legal information, not legal advice, and it cannot account for the facts of your own matter. For advice on your situation, consult a verified advocate.