Section 86(3) in West Bengal Co-operative Societies Act, 2006
(3)No dividend shall be paid-(i)otherwise than out of profit certified by the audit officer to have been actually realised; or(ii)if the audit officer reports that any asset is bad debt or doubtful debt and not adequately recovered :Provided that this sub-section shall not be applicable in respect of dividend at fixed rate payable to preferential shareholders of a bank.
