Pls clarify my doubts on this
Restriction on company’s power: It is beyond the powers of the company to declare a further dividend at a general meeting after the declaration of dividend at the annual general meeting.
It was decided by the Calcutta High Court in Biswa Nath Pd. Khaitan v New Central Jute Mills Ltd. (1961) that a company, which 1.could not declare a dividend at an annual general meeting, may do so at a subsequent general meeting. On the other hand, 2. where a company has declared .a dividend at a general meeting neither the company nor its directors can declare a further dividend for the same year.
Firstly i want to know abt the first yellow highlighted portion whether the subsequent general meeting which the context is talking abt is EGM OR NEXT AGM....
and in second one dividend at the general meeting means dividend at the AGM or something else...
CAclubindia
