[aaykarbhavan] Re: [CharteredSecretaries] FUNDING OF DIVIDEND ACCOUNT

Yes. But many banks are making adjustment up to 5 months.!!!!! Vijaya Bank , Capital Market Branch P D Mellow Road , Mumbai ,in the case of Debenture redemption amount of , Jindal Iron and Steel Co Limited ,which was cheque dated 14 January .but the Company paid the amount of Rs 200 Crores in May 20 or so and sent all the cheques to debenture holders on may 20 or so and , the account was opened  in January 14 or so !!!!!!!!!!!!...  How our SEBI has accepted this fact best known to them .  How the banks are taking care of such Companies and Reserve Bank of India is allowing and taking no action of such bad process , best known to the Company and Bank !!!!!!!!!!!!
You can follow !!!!!!!!!!!!
Copy of this e mail is sent to Company , Vijaya Bank , Reserve Bank of India for their in action in this case for more than 10 years !!!!!!!
Shortly  a PIL will be filed .
Shah D J
USA

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From: Anwar Lambay <anwarlambay@yahoo.com>
To: 59thsmtp <59thsmtp@yahoogroups.com>
Sent: Thursday, 5 September 2013 5:57 AM
Subject: [CharteredSecretaries] FUNDING OF DIVIDEND ACCOUNT

 

 

 

 

 

 FUNDING OF DIVIDEND ACCOUNT

 Dear friends

 

 Pursuant to the provisions of Section 205  and 205A of the companies Act, 1956 the entire amount of dividend as approved by the shareholders of the Company at the  Annual General Meeting of the Company, be deposited in the said Bank Account within 5 days from the date of approval by the shareholders.

 

 The dates chronological  dates are mentioned  below

01	AGM on  Wednesday  25th September 2013
02	Thursday  26th September 2013
03	Friday 27th September 2013
04	Saturday 28th September 2013
05	Sunday  29th September 2013
06	Monday  30th September	Half yearly closing of Bank accounts

 

 If Sunday is the  5^th day and Monday being   closing of bank for their half yearly closing account , can we fund the account on Tuesday 1 October  2013  ?

Please advise that on what date the fund should be transferred to the  Dividend  Account in the bank.

Regards,

Lambay

 

 

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