Can application money received for allotment of securities which are due for refund and remained unp...........

Companies Act-Phase (I & II) Paymentofdividends

Can application money received for allotment of securities which are due for refund and remained unpaid for 7 years be credited to the Investors Education and Protection Fund

True

False

True subject to certain conditions

Not at all

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Explanation:

Amounts credited to Investors Education and Protection Fund:

Amount of unclaimed or unpaid dividend of company
Amount of application money received and due for refund
Amount of matured deposits
Amount of matured debentures
Interest accrued on amount of application money received and due for refund
Interest accrued on amount of matured debentures
Sale proceeds of fractional shares arising out of issuance of bonus shares, merger and amalgamation.
Redemption amount of preference shares