Unclaimed dividend and refund framework updated with new buyback amounts, prescribed application procedure, and delegation powers. Section 125 of the Companies Act, 2013 is amended to include unpaid or unclaimed amounts relating to shares bought back and extinguished for seven or more years, and to revise the refund provision for unclaimed dividends and specified amounts due for refund. The amendment also requires applications to be made under the prescribed procedure with prescribed documents, and permits the authority to delegate its powers and functions by notification to a member, officer or other person subject to specified conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unclaimed dividend and refund framework updated with new buyback amounts, prescribed application procedure, and delegation powers.
Section 125 of the Companies Act, 2013 is amended to include unpaid or unclaimed amounts relating to shares bought back and extinguished for seven or more years, and to revise the refund provision for unclaimed dividends and specified amounts due for refund. The amendment also requires applications to be made under the prescribed procedure with prescribed documents, and permits the authority to delegate its powers and functions by notification to a member, officer or other person subject to specified conditions.
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