https://www.taxtmi.com/caselaws?id=98061 Declaration of dividends must follow statutory requirements that audited accounts and the directors' report for the relevant year be laid before shareholders at the annual general meeting; accordingly, dividends declared at an extraordinary general meeting without those documents are invalid. An article of association purporting to permit dividend declaration at an extraordinary meeting in contravention of that scheme is ultra vires and void. The current board lacked authority to notice or recommend dividends for closed accounting years absent fresh accounts and reports. Amendments to prosecute in a representative capacity were permissible without fresh leave. Relief includes declarations and injunctions nullifying the notice and resolutions and costs against the company. en-us Thu, 22 Aug 1963 00:00:00 +0530 Thu, 19 Jan 2012 10:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98061 Declaration of dividends must follow statutory requirements that audited accounts and the directors' report for the relevant year be laid before shareholders at the annual general meeting; accordingly, dividends declared at an extraordinary general meeting without those documents are invalid. An article of association purporting to permit dividend declaration at an extraordinary meeting in contravention of that scheme is ultra vires and void. The current board lacked authority to notice or recommend dividends for closed accounting years absent fresh accounts and reports. Amendments to prosecute in a representative capacity were permissible without fresh leave. Relief includes declarations and injunctions nullifying the notice and resolutions and costs against the company. Case-Laws Companies Law Thu, 22 Aug 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98061