TaxTMI 
TaxTMI 
Transfer of unpaid dividend/payment of unpaid or unclaimed dividend – Procedure evolved by a study undertaken by Ministry of Personnel.
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....npaid or unclaimed 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 peri....
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....in the Department. 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 rec....
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....bsp; (c) The companies may be advised to record change of address 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....
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.... to assist their shareholders in preferring claims of unpaid/unclaimed dividend and to display the rules and the formats prescribed therein 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 ....