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of <h1>Clarification on Unpaid Dividends in Companies Law: Section 205A Details Handling and Transfer to Central Government After Three Years.</h1> The circular addresses the handling of unpaid dividends under Companies Law, specifically clarifying the terms 'has not been paid' and 'warrant in respect thereof has not been posted' in section 205A. It explains that these terms refer to separate situations, and if a dividend warrant is posted within 42 days but remains uncashed, the company must deposit the unpaid amount into a special account, preventing its use for business purposes. This account ensures the dividend is treated as a debt owed to the shareholder. If unclaimed after three years, the amount is transferred to the Central Government.
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