Dividend issue not debited by bank

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2011 if any co. issue dividend, and this is not debited by bank up to a perios of Six months, can I pass the reverce entry in company books? as assumed that expired of cheque date

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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02 December 2011 No the amount of dividend cannot be taken back. It is to be paid whenever it is claimed upto 7 years and after that transferred to IEPF Account.

So in companies book it cannot be reversed. it is to be kept in a separate bank account.