unpaid dividend with special unpaid dividend a/c

This query is : Resolved

shrirang padmakar kulkarni (Querist)
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20 March 2010 as unpaid amount of dividend transfer to special unpaid dividend a/c with scheduled bank a/c.

if shareholder demand dividend amount whether to pay from special a/c or unpaid dividend amount is no more payable. if it is no more payable. for how much period that amount will be lying with bank a/c .

pl suggest

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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20 March 2010 when unpaid amt transferred to special unpaid dividend a/c then shareholders can claim up to 7year from special unpaid dividend a/c, then after 7 year if dividend remain un paid then amt transferred to Cental Govt. a/c

for detail refer sec 205A of Company act.