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of <h1>New Rules for Unencashed Dividend Cheques: Transfer to Companies Liquidation Account After Six Months.</h1> The circular addresses the procedure for handling unencashed cheques issued for dividend payments or return of share capital within six months of declaration. It mandates that the official liquidator, after opening an account with the State Bank of India, deposits the total payable amount and issues cheques upon claims. If cheques remain unencashed after six months, the balance should be transferred to the Companies Liquidation Account with the Reserve Bank of India. The liquidator must update the Dividend Paid Register and file a supplementary statement with the Registrar, completing the transfer within 10 days post-encashment period.
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