UNCLAIMED/ UNPAID DIVIDEND
The dividend declared at an Annual General Meeting is required to be paid within 30 days from the date of declaration. As per Section 124 of Companies Act, 2013 and rules made there under (“the Act”), where a dividend has been declared by a company but has not been paid or claimed within thirty days from the date of the declaration to any shareholder entitled to the payment of the dividend, the company shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid or unclaimed to a special account to be opened by the company in that behalf in any scheduled bank to be called the Unpaid Dividend Account.
Further, any money transferred to the Unpaid Dividend Account of a company in pursuance of Section 124 the Act, which remains unpaid or unclaimed for a period of seven years from the date of such transfer shall be transferred by the company along with interest accrued, if any, thereon to the Investor Education and Protection Fund established under sub-section (1) of section 125 of the Act.
In case you have any unclaimed/ unpaid dividends/interest in respect of the financial years mentioned above, please write to our Registrar and Share Transfer Agent.