Dividend exceeding rs 1500 has to be paid by registered post. Where is this requirement given??
Dividend exceeding rs 1500 has to be paid by registered post. Where is this requirement given??
Hi Rajiv,
You are under wrong impression. There is no need to use regd. post for div exceeding Rs. 1500.
However any director or mgt. person may ask to send div. warrant by regd. post to his address. But law doesn't require the same.
Regards
Dear Mr. Rajiv
As per Article 91 of Schedule I of Table A of the Companies Act, 1956, it says that any dividend, interest or other moneys payable in cash in respect of shares may be paid by cheque or warrant sent through the post directed to the registered address of the shareholder or to such person and to such address as the holder may in writing direct.
There is no such provisions regarding dividend exceeding Rs. 1500 is required to paid by registered post.
Regards
CAclubindia
