PTM Ltd., a listed company has declared dividend to its registered shareholders on 1st January, 2021 but the company did not pay the dividend till 31st January, 2021. What happens if registered shareholders fail to lodge

If registered shareholders fail to lodge a complaint on SCORES within the stipulated period (1 year from the cause of action), SEBI reserves the right to reject such a complaint. This is because: SEBI reserves its right to reject a complaint lodged on SCORES if the date of cause of action is more than one-year-old. Additionally, SEBI may reject a complaint if the complainant has not taken up the complaint with the concerned entity prior to lodging it on SCORES (though this specific condition might be waived for certain types of complaints or if the company is unresponsive). Generally, securities and other laws provide important legal rights and remedies. However, to take advantage of these laws, the complainant must take legal action promptly, or they may lose the right to recover funds, similar to the 'law of limitations' which sets time periods for initiating court proceedings. For unpaid dividends, after the initial 30 days, the company must transfer the unpaid dividend to the Unpaid Dividend Account within 7 days. If it remains unpaid for 7 years, it is transferred to the Investor Education and Protection Fund (IEPF). Shareholders can claim from IEPF, but the process might be more complex than a timely SCORES complaint.