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Companies act-declaration and payment of dividend

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Pratyush Prajapati

31 Points Posted on 01 May 2020

"All benefits accruing on such shares like bonus shares, split, consolidation, fraction shares and the like except right issue shall also be credited to such DEMAT account [by the company which shall send a statement to the Authority in Form No. IEPF-4 within thirty days of the corporate action containing details of such transfer."
this is subrule 8 of rule 6 Manner of transfer of shares under sub-section (6) of section 124 to the Fund.
Here, what is the exact meaning of "the like except right issue"?

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Quick Summary

This discussion clarifies dividend declaration and payment procedures under the Companies Act. It specifically explains sub-rule 8 of rule 6, detailing how benefits like bonus shares, split, consolidation, and fraction shares are credited to a DEMAT account. The phrase 'the like except right issue' means that similar financial instruments are included, but rights issues are explicitly excluded from this process.