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interim dividend

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2010 whether interim dividend paid in BOD meeting should be ratify/put as agenda in succeeding AGM

Pls clarify
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CS Richa Sharma

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CS Richa Sharma (Expert)
28 October 2010 The Department of Company Affairs is of the view that approval of Dividend is the privilege of the General Meeting and the Board can pay Interim Dividend is so Authorized by the article of Association 'subject to' the regularization of the Interim Dividend by the Company in General meeting.(Letter No. 8/13/(205A)/79CL-V,dated 18/07/1981).
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