 

holder) and delivered to the Company and if or to the extent that the same is accepted
as such or acted upon by the Board.

 

UNPAID OR UNCLAIMED DIVIDENDS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31 | (@) | Where the Company has declared a dividend but which has not been paid or claimed | Transfer of
within thirty days from the date of declaration, the Company shall, within seven days | unclaimed
from the date of expiry of the said period of thirty days, transfer the total amount of | dividend
dividend which remains unpaid or unclaimed, to a special account to be opened by the
Company in that behalf in any scheduled bank.

(2) _ | Any money transferred to the unpaid dividend account of the Company which remains | Transfer to IEPF
unpaid or unclaimed for a period of seven years from the date of such transfer, shall | Account
be transferred by the Company to the Investor Education and Protection Fund (IEPF)
established under section 125 of the Act.

(3) _ | The Company shall ensure that as per the provisions of Section 124(6) of the Act, All | Transfer of shares
shares in respect of which dividend has not been paid or claimed for seven consecutive | in case of
years or more shall be transferred by the company in the name of Investor Education | unclaimed
and Protection Fund. dividends

(4) Any person claiming to be entitled to an amount or shares so transferred to Investor | Right to claim
Education and Protection Fund, may apply to the company and/or the authority | back the amount
constituted by the Central Government for the payment of the money claimed or shares | or shares
so transferred. transferred to

JEPF
© | No unclaimed or unpaid dividend shall be forfeited by the Board until the claim | Forfeiture of
becomes barred by Applicable Laws. unclaimed
dividend
BOOKS OF ACCOUNTS
32 | () The Board shall cause true accounts to be kept of the assets and liabilities and of all | Maintenance of
sums of money received and expended by the Company as prescribed in the | Books of
Applicable laws. Accounts of
Company

(2)__ | The Books of account and books and papers of the Company, or any of them, shall be | Inspection by
open to the inspection of directors in accordance with the applicable provisions of the | Directors
Act and the Rules.

@) | No member (not being a director) shall have any right of inspecting any books of | Restriction on
account or books and papers or document of the Company except as conferred by | inspection by
Applicable Laws or authorised by the Company in General Meeting. members

APPOINTMENT, RESIGNATION & REMOVAL OF AUDITORS
33 |G) | The Statutory auditors of the company shall be appointed, their remuneration shall be | Appointment of
fixed, rights, duties and liabilities shall be regulated and their qualifications and | Statutory Auditors
disqualifications shall be in accordance with the provisions of Sections 139 to 148 (both
inclusive) of the Act.

(2) __ | The Directors may fill up any casual vacancy in the office of the auditors within thirty | Casual Vacancy
days subject to the provisions of Section 139 and 140 of the Act and the rules framed
thereunder.

(@) __| The remuneration of the auditors shall be fixed by the Company in the Annual General | Remuneration of
Meeting or in such a manner as the Company in the annual General Meeting may | Statutory auditors
determine except that, subject to the applicable provisions of the Act, remuneration of
the first or any auditor appointed by the Directors may be fixed by the Directors.

(4) (a) The Board shall duly appoint Practising Cost Accountant to conduct Cost audit | Cost Auditor

of the Company in accordance with the provisions of the Act [Section 148] and
remuneration shall be fixed subject to approval at the general meeting of the
Company.
(b) Resignation, Casual Vacancy and Removal of Cost Auditors etc., shall be
governed by the provisions of the Act.
(5) (a) The Board shall duly appoint Practising Company Secretaries to conduct | Secretarial
Secretarial audit of the Company in accordance with the provisions of the Act | Auditor

 

 

[Section 204].

 

 

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