"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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Companies act-declaration and payment of dividend
Replies (2)
Quick Summary
‘The like’ means- similar financial instruments which fall under the category of bonus share, consolidated shares, fraction shares.
‘Except right issue’ means- it excludes rights issue from the above.
Thank you
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