Calculation of date to transfer dividend to bank account

Dear Paridhi,

Under section 205 the amount of deposit must be deposited in the Dividend Account of the Company within 5 Days of the date of AGM. Accordingly, the Company must have opened the dividend account for the year before the date of AGM and the amount of deposit must be deposited with the said dividend account within 5 days.

In case of the AGM of 29th September the amount must be transferred to the Dividend Account on or before 4th September.