Section 205c
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2013
Dear Sir/ Mam
I have a query on the applicability of section 205C.
Company's date of AGM where dividend is declared: September 30,2007
so, according to the section, last date for payment: October 29, 2007
Transfer of amount to separate account: November 5,2007
Query 1: Company did not transfer the amount to a separate account. As on date, the same dividend account remains open.
Query 2: Should company entertain any claim of dividend after October 29, 2007.
Query 3: Company pays dividend to a claimant in November 2008. is this a violation under law.
Query 4: exact date of completion of 7 years for transfer of amount to Investor & Protection fund
Request an urgent opinion . Thank you
I have a query on the applicability of section 205C.
Company's date of AGM where dividend is declared: September 30,2007
so, according to the section, last date for payment: October 29, 2007
Transfer of amount to separate account: November 5,2007
Query 1: Company did not transfer the amount to a separate account. As on date, the same dividend account remains open.
Query 2: Should company entertain any claim of dividend after October 29, 2007.
Query 3: Company pays dividend to a claimant in November 2008. is this a violation under law.
Query 4: exact date of completion of 7 years for transfer of amount to Investor & Protection fund
Request an urgent opinion . Thank you
08 January 2013
for your query first - it is mandate to transfer after 30 days to unpaid dividend account.
second - until mand unless claim is not transefer to investr protection fund, company can entertain the claim
Third- not it cant entertain the claim of nov 2008
fourth - after 7 years of the trasfer to unclaim dividend account
second - until mand unless claim is not transefer to investr protection fund, company can entertain the claim
Third- not it cant entertain the claim of nov 2008
fourth - after 7 years of the trasfer to unclaim dividend account
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 January 2013
Thanks sir. But my concern is the status as on date stands as explained by me for a company.
what is the procedure for rectification or further steps ahead?
what is the procedure for rectification or further steps ahead?
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