8.1

COMPANY shall declare dividends out of the net surplus profit after deductions of all relevant income and other taxes after providing for such reserves and deductions as may be required by law or otherwise as may be determined by the Board of Directors of the COMPANY from time to time in accordance with prudent financial practices and business requirements and after providing for statutory reserves, taxes and tax on dividend and requirements of lenders funding the business (as mentioned in Article IV) of the COMPANY.

8.2

For the purpose of Clause 8.1, the expression 'audited divisible profits' shall mean the profits as reflected in the audited financial statements of the Company prepared in accordance with Indian General Auditing and Accounting Principles after proper provisions for all taxation assessable on or by reference to the profits of the COMPANY.