Mogul Line Limited (Acquisition of Shares) Act : MANNER OF PAYMENT OF AMOUNTS Indian Bare Acts :

Mogul Line Limited (Acquisition of Shares) Act,1984

Act No : 33

Section : MANNER OF PAYMENT OF AMOUNTS

SECTION 06: MANNER OF PAYMENT OF AMOUNTS

(1) The amounts payable to a shareholder in accordance with the provisions of section 5-shall be given to him in cash to be paid by cheque drawn on the Reserve Bank of India.

(2) A shareholder may make an application, in writing, to the Central Government for the payment of the amounts payable to him.

(3) On the receipt of an application under sub-section (2), the Central Government shall, after making such investigation as may, in its opinion, be necessary, make the payment.

(4) If any dispute arises as to the person entitled to receive the amounts payable in respect of any share, the Central Government shall deposit the amount in the principal Civil Court of original jurisdiction within the local limits of whose jurisdiction the registered office of the Company is situated for being paid to the person or persons entitled to be paid.