Declaration of dividend from reserves: conditional withdrawals, mandatory publication of unpaid dividends, transfer to Fund and claimant restoration. Declaration of dividend from reserves is allowed when current profits are inadequate, subject to limits on rate and total withdrawals, priority application to set off current losses, and maintenance of a minimum residual reserve; unpaid or unclaimed dividends must be published in a searchable statement until transfer to the Fund; amounts unclaimed for the statutory period plus interest are transferred to the Fund with designated bank remittance and certified challan; shares related to transferred dividends are moved to an IEPF suspense account with frozen voting rights, preservation of documents, and procedures for claimant verification and refund.
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.
Declaration of dividend from reserves: conditional withdrawals, mandatory publication of unpaid dividends, transfer to Fund and claimant restoration.
Declaration of dividend from reserves is allowed when current profits are inadequate, subject to limits on rate and total withdrawals, priority application to set off current losses, and maintenance of a minimum residual reserve; unpaid or unclaimed dividends must be published in a searchable statement until transfer to the Fund; amounts unclaimed for the statutory period plus interest are transferred to the Fund with designated bank remittance and certified challan; shares related to transferred dividends are moved to an IEPF suspense account with frozen voting rights, preservation of documents, and procedures for claimant verification and refund.
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