A private Limited Co. has a paid up capital Rs. 6.50 lacs & accumulated surplus Rs. 11.50 as on 31.03.2018 During the FY 2018-19 company has suffered losses Rs. 3.50 lacs . The Company has declared and PAid Dividend Rs. 8.50 LAcs to shareholders and deposited 1.74 lacs as DDT (Dividend Distribution Tax) in FY 18-19 My querry is whether the company can paid the above dividend and if no what is remedy or consequences .
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A state government company has made allotment of equity shares to existing shareholders under section 62(1)(a). But allotment was made after 60 days of receipt of application money.
Now auditors are saying that the company has violated provisions of Section 73 and 74 and as per section 123(6) it cannot pay to dividend.
The company has already declared and paid dividend.
As per my view period of allotment to be made within 60 days is for private placement under section 42. Here allotment made under section 62(1)(c).
What can be provisions in this regard.
Please advise
Declaration of dividend
A company with a share capital of Rs.1 lakhs is having a reserve of Rs.10 Lakhs as on 31.3.2018. For the financial year ended 31.03.2019, the company has incurred a loss of Rs.50,000/-. The company does not have any activity during the year and would like to close the business. Before closing the business, the company has to disburse the sum of Rs.10 lakhs as dividend. Is there any restriction regarding the declaration and payment of dividend?
This is the first year of dividend declaration.
dividend
declaration
Dear Members,
Our Company has wrongly credited tax amount along with dividend amount in dividend account.
Please suggest.
should I transfer this tax amount into normal account of company or to pay the tax through this dividend account?
In case a transfer has not been registered in the books of a company, then the transferor can entitled to receive dividend if he is a registered holder as on the record date?
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beneficial holder can receive dividend from the
company by virtue of the order given by the registered holder?
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dividend
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holder
beneficial
Dear all,
Kindly share board resolution for transfer of unpaid dividend to IEPF account through RTGS/NEFT at swapnildfl19@gmail.com.
Regards,
Swapnil
One of my clients had not received the dividend from the company form 6 to 7 years. so now he wants to collect his unpaid dividend amount amounted to 450000/- from a listed public company? what is the procedure to collect the same?
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Can a Cumulative Preference shareholder waive his right to dividend and is it mandatory that the Articles of Association should have the provision for the waiver?
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preference
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waiver
Can the Board of a Listed entity declare Interim Dividend if the same is not covered in the Agenda of the Board meeting?
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interim
declaration
Dear All, A Company declared Dividend on 28/09/2017 (date of AGM). One Shareholder did not encash the Dividend Warrant within due date. So the Company transferred the unpaid / unclaimed Dividend to Unpaid Dividend Account of a Scheduled Bank. Thereafter the Shareholder encashed the Dividend warrant. Now should the Company file IEPF-2 and host the details in its website ? Kindly guide.
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Whether a private company can give dividend to his shareholders. If yes, then what are conditions? Kindly let me know?
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