New law is a step towards responsible India Inc Just before the companies Act was set to hit the retirement age, a youthful and investor-friendly companies Bill is finally here. The new Bill retains the old provisions, but also adds stronger and progressive provisions. A provision which would find favour with most shareholders is the dispensation of requirement of mandatory transfer to reserves before declaring dividend. Higher the dividend payout, happier the investors. Similarly, granting of general voting rights to preference shareholders where the company has defaulted in dividend payout for more than two years would garner a thorough support
Posted on: Tue, 13 Aug 2013 05:30:32 +0000
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