100
This query is : Open
09 August 2011
a public company redeme preference share in year1984-85.
As on current period this redeem preference share has been unclaimed.
So, what will be treatment in books regarding unclaimed redemption of preference share.
As on current period this redeem preference share has been unclaimed.
So, what will be treatment in books regarding unclaimed redemption of preference share.
10 August 2011
It will be taken in Current Liability as the Shareholder/Legal Heir of Those Preference Shares has a Right to Claim at any point of Time during The Year.
They will Claim as and when it will come to their Knowledge It will be a Liability for The Company in a current Nature.
Nowhere in the Companies Act 1956 written that it should be Deposited With Govt. as Old unclaimed dividend. Further it may be a matter of litigation is the Person go for Interest Claim for un-redeemed Capital Investment. However, he may not be allowed for the same, as no correspondence pertaining to said claim was made with the Company.
Manish J. Agrawal {CA SAP DISA DIRM}
They will Claim as and when it will come to their Knowledge It will be a Liability for The Company in a current Nature.
Nowhere in the Companies Act 1956 written that it should be Deposited With Govt. as Old unclaimed dividend. Further it may be a matter of litigation is the Person go for Interest Claim for un-redeemed Capital Investment. However, he may not be allowed for the same, as no correspondence pertaining to said claim was made with the Company.
Manish J. Agrawal {CA SAP DISA DIRM}
Message likes :
1 times
10 August 2011
Thanks sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Import license renewal
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
