Dear All,...
I just want to ask u that... can proposed dividend be increased or decreased in AGM????? plz reply with under which sec if possible........
Thanks.....
Dear All,...
I just want to ask u that... can proposed dividend be increased or decreased in AGM????? plz reply with under which sec if possible........
Thanks.....
CA Syed Raza Abbas Rizvi
(PROPRIETOR )
(631 Points)
Replied 27 April 2012
hiiiiiii
The shareholders at the annual general meeting may vote to reduce, but may not increase, the dividend proposed by the board of directors. But I dont know the secion.
Mihir Doshi
(B.Com, CA, CS, LLB)
(2187 Points)
Replied 27 April 2012
Mihir Doshi
(B.Com, CA, CS, LLB)
(2187 Points)
Replied 27 April 2012
Dear Saurabh Sinh,
As per Regulation 85 of Table 'A' of Schedule I to the Companies Act 1956, the power to declare a dividend vests with the general meeting, but it has no power to declare a dividend exceeding the amount recommended by the board.
But if a dividend is so declared at the general meeting, the company can not declare a further dividend for the same year. (Circular no. 2 issued by the department of Company Affairs dated 25.10.1975)
Regards,
Veeral Gandhi
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"