COMPANIES AND ALLIED MATTERS ACT, 2020
Section 432: Right of the shareholders to sue for dividends.
(1) Dividends are special debts due to and recoverable by shareholders within 12 years, and actionable only when declared.
(2) Dividends that are unclaimed after 12 years should be included in the profits that should be distributed to the other shareholders of the company.
Cite this section
Section 432, COMPANIES AND ALLIED MATTERS ACT, 2020 (2020).
https://repo.podus.ai/laws/companies-and-allied-matters-act-2020/section/432/