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Interest from Unclaimed dividend account held in Bank

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Rajesh Kumar

Student

101 Points Posted on 26 November 2008

Can anyone please tell me what is the treatment of interest received from fund which is transfered to unclaimed dividend account. as per rule it should be kept in this account for 7 year. My question is during these 7 year some interest also would be given by bank.

What is the treatment of that interest?

regards

Rajesh

Replies (1)

krishna kc

director

42 Points Posted on 16 July 2011

when interet is received then it will goes to unclaimed dividend Account....because it is the right of share holder to get the interest ..however if not claimed by share holder within 7 years then it will go to invester protaction fund.