Section 126 of CA 2013 : Section 126: Right To Dividend, Rights Shares And Bonus Shares To Be Held In Abeyance Pending Registration Of Transfer Of Shares
CA 2013
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Explanation using Example
Imagine that Rita has sold 100 shares of XYZ Ltd. to John and has given the share transfer form to XYZ Ltd. for registration. However, XYZ Ltd. has not yet registered the transfer in its books due to certain discrepancies in the documentation. In the meantime, XYZ Ltd. declares a dividend on shares.
According to Section 126 of The Companies Act, 2013, XYZ Ltd. cannot pay the dividend to John becau...
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