Payment of dividend/return of share capital Cheques issued but not encashed within the period prescribed under the section Procedure to be followed

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n ‑ Procedure to be followed Advice was sought as to the procedure to be followed in the matter of cases wherein cheques had been issued towards payment of dividends/return of share capital but not encashed within the period, of 6 months of the date of declaration of such dividend/return of share capital. It has been reported that soon after the declaration of dividend/return of share capit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of declaration of dividend/return of share capital, some cheques issued by the official liquidator remain which are not encashed by the parties before the date of transfer of funds into the Companies Liquidation Account with the Reserve Bank of India and, therefore, the balance as shown in the account with the State Bank of India and that as per Dividend Paid Register do not tally. The question ar .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... with the Reserve Bank of India. The official liquidator after withdrawing the amount remaining unclaimed in the State Bank of India account should make necessary entries in the Dividend Paid Register to the effect that certain cheques (No., date and account, etc., to be indicated) issued were not encashed by the parties and hence the amount involved in the said cheques is also deposited in the Co .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X