TMI BlogUnpaid dividend to be transferred to special dividend account.X X X X Extracts X X X X X X X X Extracts X X X X ..... d of [6] [thirty days], to a special account to be opened by the company in that behalf in any scheduled bank, to be called "Unpaid Dividend Account of .......... Company Limited/ Company (Private) Limited". [7] [ Explanation . In this sub-section, the expression "dividend which remains unpaid" means any dividend the warrant in respect thereof has not been encashed or which has otherwise not been paid or claimed.] (2) Where the whole or any part of any dividend, declared by a company before the commencement of the Companies (Amendment) Act, 1974 (41 of 1974), remains unpaid at such commencement, the company shall within a period of six months from such commencement, transfer such unpaid amount to the account referred to in sub-sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnish [10] [to such authority or committee as the Central Government may appoint] in this behalf a statement in the prescribed form setting forth in respect of all sums included in such transfer, the nature of the sums, the names and last known addresses of the persons entitled to receive the sum, the amount to which each person is entitled and the nature of his claim thereto, and such other particulars as may be prescribed. [11] [(7) The company shall be entitled to a receipt from the authority or committee under sub-section (4) of section 205C for any money transferred by it to the Fund and such a receipt shall be an effectual discharge of the company in respect thereof.] (8) If a company fails to comply with any of the requirem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he company to the general revenue account of the Central Government but a claim to any money so transferred to the general revenue account may be preferred to the Central Government by the person to whom the money is due and shall be dealt with as if such transfer to the general revenue account had not been made, the order, if any for payment of the claim being treated as an order for refund of revenue." [9] Substituted for the words "general revenue account of the Central Government", by the Companies (Amendment) Act, 1999, w.r.e.f. 31-10-1998. [10] Substituted for the words "to such officer as the Central Government may appoint", by the Companies (Amendment) Act, 1999, w.r.e.f. 31-10-1998. [11] Substituted by the Companies (Am ..... X X X X Extracts X X X X X X X X Extracts X X X X
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