Falcon Ltd (FL) provides the following details about its financial results:

Equity share capital ₹70,00,000, Current year’s profit ₹40,00,000, Average amount paid as equity dividend in the past three years ₹17,00,000. During the current year, the company wishes to declare a dividend of 18%. Suggest can it be implemented and how much maximum amount can be transferred to general reserve. If the company wishes to declare a dividend of 28% then will it be possible? What if the company does not declare any dividend?