A company declared an interim dividend on 1st November 2016.
What procedure the company has to follow in case the amount so
declared is not fully paid or claimed by all the shareholders by the end
of 30th November 2016?
What are the profits which may be utilized for this purpose?
Click here to view / answer Share it on
Dear Members,
Please advise on following query:
A private limited company approved final dividend in its board meeting on 01.09.2019
and it was confirmed by shareholders in its AGM on 27.09.2019. But, after declaring
dividend, due to some reasons management hold on to distributing dividend to shareholders.
Now, BOD wants to pass resolution for withdrawal of dividend declared earlier
and shareholders are even confirming to withdraw declaration of dividend by passing
special resolution in its EGM.
Now, please advise as per Companies Act, 2013, can BOD & shareholders withdraw and
cancel earlier approved declaration of dividend by passing resolutions in its duly held meetings.
Your early reply shall be really helpful.
