Share holders to make applications for Registrar

Corporate199113 sections

Statutory text

(1) Any share-holder whose share or shares has or have been vested in the State Government under the provisions of section 3 may, within two months from the date of vesting, apply in writing to the Registrar for payment of the amount due to him under this Act: Provided that if the Registrar is satisfied that any share-holder was prevented by sufficient cause from making an application for payment of the amount due to him within the stipulated period of two months, he may condone the delay and entertain the application.
(2) All such applications shall be disposed of by the Registrar within one month from the date of receipt thereof.

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