Dividend

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2012 Q: transfer of unpaid dividend{ remaining unpaid since 7 years} shall be trsfd to Investor education and protection fund as per sec (205A to 205C)
in this sec 7 years will be calculated from which date?date of transfer into unpaid div account co limited or due date when dividend was due in co?

Ajay Mishra

Ajay Mishra (Expert)
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20 February 2012 Hi

Under section 205A, if a dividend declared by the company has not been paid or claimed within 30 days of the declaration, the same shall within 7 days thereafter (i.e. 7 days after the expiry of 30 days from the date of declaration) have to be transferred to a special account to be opened by the company in that behalf in any scheduled bank to be called Unpaid Dividend Account of……….Company Limited”

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2012 what about calculation of 7 years for transfer to investor protectioon fund?