Question
What steps must a company take within ninety days of
transferring an unpaid dividend amount to the Unpaid Dividend Account?Solution
Companies Act Section 124. Unpaid Dividend Account: (2) The company shall, within a period of ninety days of making any transfer of an amount under sub-section (1) to the Unpaid Dividend Account, prepare a statement containing the names, their last known addresses and the unpaid dividend to be paid to each person and place it on the web-site of the company, if any, and also on any other web-site approved by the Central Government for this purpose, in such form, manner and other particulars as may be prescribed.
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