Priya Sharma (Company Secretary & Student.MBA) (998 Points)
29 September 2009What is the procedure for opening of a Bank account at the time of declaration of final dividen at AGM?
Also what is the time limit for payment of dividend and opening ob Bank account??
Pls support with the corresponding sections.
Regards
Priya
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 29 September 2009
Hi,
Simply pass a board resolution for opening of bank account.
The relevant sections regarding dividend are section 205 to 207.
Regards
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 29 September 2009
Thank you Sir....But my ques is within how many days bank account should eb opened.
As far as I know is is 5 days from the date of declaration of dividend and then the validity of the cheque or warrant is 3 months.
Plz correct me Sir if I am wrong.
Its urgent.
Rgds
Priya
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 29 September 2009
Please find attach a useful file connected with Dividend. Hope this file would be off some help.
Regards
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 29 September 2009
Read Section 205 and 207 carefully for time lines. Regarding 5 days and 3 months you are correct. In my company div. warrants were valid for 6 months.
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 29 September 2009
Thank you very much Ankur Sir......Your files are of a great help to me.
Regards
Priya Sharma
CS final Student
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 29 September 2009
That's great. You are most welcome.
CAclubindia
