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What is NO DELIVERY PERIOD

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NO DELIVERY PERIOD Book Closure (Section 91 of the Companies Act, 2013) is the periodic closure of the Registrar of Members and Transfer Books of the company to take a record of the shareholders to determine their entitlement to dividends or to bonus or right shares or any other rights pertaining to shares. A company may close the register of members for a maximum of 45 days in a year and for not more than 30 days at any one time. The listed company should close their book at least once in a year. 

The listed company should give notice of book closure in a newspaper at least 7 days before the commencement of the book closure. The members whose names appear in the register of members on the last date of book closure are entitled to receive the benefits of dividend, right shares or bonus shares, as the case may be. 

Record date (Clause 16 of the listing agreement) is the date on which the records of a company are closed for the purpose of determining the stock holders to whom dividends, proxy‟s rights etc. are to be sent. 

In case of fixation of record date, a company fixes a date for determining the corporate benefits like dividends rights, bonus shares rights and rights issue. The listed company should give notice or record date in a newspaper at least 7 days before the fixation of the record date.

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