business to be conducted at AGM
This query is : Resolved
12 December 2008
our Co. had paid dividend to Pref. shareholders for 2 continuing yrs without approving it at AGM. Is there any default?
Now what step should be taken to rectify the error?
plz also tell the penalty for Default.
Now what step should be taken to rectify the error?
plz also tell the penalty for Default.
14 December 2008
KAMALJEET
Preference Shareholders are entitled for fixed rate of dividend. So i dont think there is a requirement as such. In my knowledge there is no necessity to take AGM Approval.
rgds
Vivek
Preference Shareholders are entitled for fixed rate of dividend. So i dont think there is a requirement as such. In my knowledge there is no necessity to take AGM Approval.
rgds
Vivek
17 December 2008
ok sir i agree with your view that the dividend is paid at Fixed rate.
but it is still a dividend in nature and payment of dividend requires Shareholders approval, and as such the payment of Dividend falls under the category of Ordinary business it can only be transacted at AGM.
but it is still a dividend in nature and payment of dividend requires Shareholders approval, and as such the payment of Dividend falls under the category of Ordinary business it can only be transacted at AGM.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
