Interim Dividend

CS Arjun Rajagopal (B.com, ACS) (1056 Points)

22 September 2016  

The directors of a private company declared and paid an interim dividend of 
Rs.5/= per equity share having face value of Rs.10/- each. However, when the 
resolution was put up for confirmation by shareholders , the resolution could 
not be carried through. Can PayWell claim back the interim dividend already 
paid to the shareholders?