Section 27 of SCRA : Section 27: Title To Dividends
SCRA
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Explanation using Example
Imagine John holds shares in ABC Corp and decides to sell them to Emily. The shares are sold on June 1st, and the dividend is due on June 15th. John transfers the shares to Emily, but Emily doesn't submit the transfer documents to ABC Corp within 15 days of the dividend due date.
In this case, according to Section 27(1) of The Securities Contracts (Regulation) Act, 1956, John is legally entitled to receive and keep the dividend dec...
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