https://www.taxtmi.com/caselaws?id=97782 Preference shareholders may participate rateably in residual winding-up assets where the memorandum and articles, read as a whole, preserve that right after payment of external liabilities, winding-up costs, arrears of preference dividends and paid-up capital. Accumulated profits not otherwise appropriated may remain within the distributable winding-up fund. A bona fide reserve arising from revaluation of capital assets may be capitalised where the articles permit distributable sums to be applied in paying up shares, provided the company could lawfully distribute the reserve and no preference class right is infringed. Share subdivisions and voting adjustments may enlarge class voting entitlements without varying rights fixed by the memorandum. en-us Thu, 02 Feb 1961 00:00:00 +0530 Wed, 18 Jan 2012 10:55:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97782 Preference shareholders may participate rateably in residual winding-up assets where the memorandum and articles, read as a whole, preserve that right after payment of external liabilities, winding-up costs, arrears of preference dividends and paid-up capital. Accumulated profits not otherwise appropriated may remain within the distributable winding-up fund. A bona fide reserve arising from revaluation of capital assets may be capitalised where the articles permit distributable sums to be applied in paying up shares, provided the company could lawfully distribute the reserve and no preference class right is infringed. Share subdivisions and voting adjustments may enlarge class voting entitlements without varying rights fixed by the memorandum. Case-Laws Companies Law Thu, 02 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97782