Dear All,
one of my client has declared interm devidend on 02.09.2013, langauage of the resolution is as under:
"Resolved that the approval of the board of the directors be and hereby given to the company for the payment of interm dividend at the rate of Rs. 6.50/- per equity share on the profit of the company for the finanacial year ended on 31.03.2013."
AGM of the company was held as on 24.08.2013 to adopt the financial statement for the year ended on 31.03.2013.
My queries are as:
1. is it possible to declare interim devided in 2013-14 for the year ended on 31.03.2013 i.e. after the end of the year..??? and after AGM.
2. If there is a clerical mistake in the drafting of the board resolution and it is for the financial year 2013-14, in that case is copmany required to prepare financial statement before declaration of financial statements or not.
Thanking to all of you in advance..
CAclubindia
