Dividend on calls in arrears.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 Data is as given below :

Called up capital - Rs.10,00,000/- (100,000 shares of Rs.10 each)

calls in arrears - 15000 (rs.3 each for 5000 shares)

thus paid up capital being 985,000/- only.

dividend proposed and declared is 10%

what should be the dividend amount payable.??

Please Clarify. Thanks in advance.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

07 June 2014 it will be on amount paid by shareholder i.e 985,000 only.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 thanks for the reply..

Shall it not be on just 950,000 .. which is the paid up amount of the shares on which no arrears or default exist ??? Had a confusion with the matter.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

07 June 2014 no it is always on the total amount paid up capital.

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2014 thanks for resolving the query... thank you.

Nikhil Kaushik

Nikhil Kaushik (Expert)

08 June 2014 beg to disagree. it will be in proportion to paid up capital only if authorised by companies Articles. Please refer section 51 of the Companies act 2013. the corresponding section to old act is Section 93.

so first check the articles of the company.

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2014 Nikhil Sir, means as per Your opinion, Should it be on 985,000/- or 950,000/ given that company follows Table A.??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

09 June 2014 it will be 985000 only when co is following table A.

Nikhil Kaushik

Nikhil Kaushik (Expert)

09 June 2014 querist, tushar has answered. so kindly go ahead.

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2014 Thank You Tushar Sir,
Thank you Nikhil Sir.