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DECLARATION AND PAYMENT OF DIVIDEND - Proposed Amendments in the Companies Act, 2013

News and Press Release - Dated:- 2-2-2016 - Declaration of Dividend 8.1 Sub-section (3) of Section 123 of the Act, allows the Board of Directors to declare interim dividend during any financial year out of the surplus in the profit and loss account, .....

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al year period; restricting the ability of companies to declare interim dividend after the close of the financial year but before the Annual General Meeting (AGM). Such an interpretation could not have been the intent of the Act and would cause diffi .....

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of the financial year in sub-section (3) of Section 123 appears at disharmony with the provisions of sub-section (1)(a), which provides for the declaration of dividend out of the profits of the company for that financial year, or the profits of the .....

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