Hello everyone......
My query is related to Unpaid dividend. As per the company law the unpaid dividend is to to transferred to Unpaid dividend account in a separate bank account in a schedule bank within in 7 days (If dividend declared is not claimed within 30 days of declaration). In case of default the company is required to pay interest @ 12% on the amount to be transfered. Now my question is whether this interest is also distributed to the shareholders.If yes then in what ratio or manner/ no then what is the treatment...
CAclubindia
