Share Application money & Proposed Dividend unpaid
This query is : Resolved
11 December 2007
What is the procedure for excess application money received? explain how to repay it? Till then where to keep this money?
Proposed dividend unclaimed what is the treatment?
what is the procedure for the unclaimed amount?
Proposed dividend unclaimed what is the treatment?
what is the procedure for the unclaimed amount?
S.Srinivasaraghavan
(Expert)
11 December 2007
You have not mentioned what is the type of company, private or public, listed or unlisted. In any case the excess application money gas to be obviously refunded to the applicants. Till they are refunded they will have to be in a scheduled bank's account. As regards treatment of unclaimed amount please refer to section 205A and 205C of the companies Act 1956.
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