Unclaimed Dividend (UD) from the year 1986 to 1993.

This query is : Resolved

Guest

Guest (Querist)

08 August 2009 Query :

A person is having Unclaimed Dividend (UD) from the year 1986 to 1993.
Whether he can claim the amount, as he is now intending.

Is it possible ? If so, what is the procedure to be complied ?

[UD has been transferred to general revenue account of central government].

Thanks for your valuable response.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 August 2009 It is possible. Rule 6 of The Companies Unpaid Dividend (Transfer to General Revenue Account of the Central Government) Rules,1978 contains the procedure. The claimant has to file an application before the ROC in Form-II of the said rules. If the ROC is satisfied with the claimant title to the claim, he may be asked to file an indemnity bond in Form-III. Then the ROC will pass orders sanctioning the payment and direct the pay and accounts officer to issue cheque and forward the same to ROC for onward transmission to the claimant. The claimant shall give a stamped receipt also along with Form-II.