Dividend account

namrata (company secretary ) (422 Points)

07 October 2010  

Hi Freinds,

Can any one please tel me if in a Pvt Ltd Company if after declaration of Dividend within Five Days Divideend A/c is required to be opened. But if its not been opened and instead the dividend amount is paid through normal account is it fine to do that?

Secondly , if the dividend account is not opened within 5 days then for a Pvt Ltd company what are the penalties?

Please note its urgent..