https://www.taxtmi.com/caselaws?id=97727 The court found that the declaration of dividends at an extraordinary general meeting was ultra vires, as per the company's articles of association and the Companies Act. The notice convening the meeting was deemed misleading and defective, lacking essential information. Additionally, the new board of directors lacked the authority to declare a dividend for the previous year. Consequently, the resolution passed at the meeting was declared illegal and void, with an injunction issued against its implementation. The plaintiff was awarded costs for the suit. en-us Mon, 27 Jun 1960 00:00:00 +0530 Tue, 17 Jan 2012 17:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97727 The court found that the declaration of dividends at an extraordinary general meeting was ultra vires, as per the company's articles of association and the Companies Act. The notice convening the meeting was deemed misleading and defective, lacking essential information. Additionally, the new board of directors lacked the authority to declare a dividend for the previous year. Consequently, the resolution passed at the meeting was declared illegal and void, with an injunction issued against its implementation. The plaintiff was awarded costs for the suit. Case-Laws Companies Law Mon, 27 Jun 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97727