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CS Executive · Company Law and Practice · Distribution of Profits

Kaveri Foods Ltd transferred Rs 8,00,000 of unpaid dividend to its Unpaid Dividend Account on 1 April. It must prepare a statement of names, last known addresses and amounts due to each person and place it on its website. Within how many days of the transfer must this statement be prepared?

The statement of names, last known addresses and unpaid amounts must be prepared and placed on the company's website, and the approved Central Government website, within ninety days of transferring the money to the Unpaid Dividend Account.

  1. ASeven days
  2. BThirty days
  3. CNinety daysCorrect
  4. DSeven years

Explanation

The company must prepare the statement within ninety days of making the transfer to the Unpaid Dividend Account and place it on its website, if any, and on any other website approved by the Central Government. Seven days is the time for making the transfer itself, and seven years is the period after which money goes to the Fund.

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