TMI BlogTransfer of unpaid dividend/payment of unpaid or unclaimed dividend – Procedure evolved by a study undertaken by Ministry of Personnel.X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed dividend Procedure evolved by a study undertaken by Ministry of Personnel. As you are aware, under section 205A of the Companies Act, 1956, the dividend declared by a company can be claimed by the shareholders from the company itself within a period of three years from the date of declaration of dividend, and the dividend, which remains unpaid/unclaimed within the said period of three y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment. You are requested to advise our constituent member companies to take appropriate action on the following suggestions: (a) Attention is invited to regulation 25 of Table A to the Companies Act, 1956, which provides, inter alia, that on the death of a member, the survivor or survivors where the member was a joint holder, shall be the only persons recognised by the company as having a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s intimated by the shareholders promptly and issue notice of annual general meeting and dividend warrant at the changed address. (d) It is noticed that some companies require endorsement with signatures of the shareholders on the reverse of the dividend warrant before it is presented to the bank. This endorsement appears to be meaningless so long as the dividend warrant is encashable only t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at their registered offices for information of the share-holders. (g) As per rule 4A of the Companies Unpaid Dividend (Transfer to General Revenue Account of the Central Government) Rules, 1978, the companies are required to inform the shareholders concerned about the particulars of the dividend transferred to the General Revenue Account of the Central Government along with the notice of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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