Dividend declaration

This query is : Resolved

Soumyabrata (Querist)
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25 September 2013 the amount of dividend is required to be transfered in a special account with 5 days of declaration of dividend. Now how to claculate this 5 days?
1. Is it 5 calender days or 5 working days?
2. Whether the day of declaration and day of transfer to be counted within 5 days or excluding the time of 5 days?
3. If the last (5th) day is public/national holiday, then whether the very next day can be counted or the immediately previous day will be considred as last day?

Please advise.

Veeraraghava Narasimhan

Veeraraghava Narasimhan (Expert)
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05 October 2013 1. 5 calender days
2. Including
3. previous day

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