SUBSCRIBE(free)-Daily Updates (Click Verification Link Received in Your Email)
Transfer to Investor Education and Protection Fund (IEPF)
The following note is added to the Notice of General Meeting of shareholders.
TRANSFER TO INVESTORS EDUCATION and PROTECTION FUND (IEPF):
Pursuant to Section 205A of the Companies Act, 1956 read with the Investors Education and Protection Fund (Awareness and Protection of Investors) Rules 2001, all unclaimed / unpaid dividend up to the final dividend approved by shareholders on Annual General Meeting dated _______________, has been transferred to the Investors Education and Protection Fund set up by the Central Government account and no claim can be admitted in respect of this Fund. Members are therefore requested to encash their dividend warrants immediately for subsequent years.
Members are requested to write to the Company and/or Share Transfer Agents, if any dividend warrant is not encashed so that fresh / re-validated warrants could be issued by the Company.
This point of transfer to IEPF also comes in the Directors Report, which is generally as below:
By virtue of Sections 205A and 205C of the Companies Act, 1956, the amount of dividend remaining unpaid / unclaimed for the period of seven years from the date of its transfer to the Unpaid Dividend Account of the Company shall be required to be transferred to the Investor Education and Protection Fund (IEPF) administered by the Central Government. All unclaimed / unpaid dividend up to the final dividend approved by shareholders on Annual General Meeting dated _______________, has been transferred to the Investors Education and Protection Fund set up by the Central Government account and no claim can be admitted in respect of this Fund. Provided below are the dates of declaration of dividend and corresponding dates when unpaid / unclaimed dividends are due for transfer to the IEPF:
Date of Declaration of Dividend
Due date of transfer to IEPF
Members who have not encashed their dividend warrants are requested to have them revalidated and encashed to avoid transfer to IEPF.
OBTAINING INFORMATION ABOUT UNPAID AND UNCLAIMED AMOUNTS LYING WITH COMPANIES MADE EASY
The Ministry of Corporate Affairs has launched a new search facility on its website for unpaid and unclaimed amounts lying with the companies. Investors can visit the web page www.iepf.gov.in and obtain information regarding such amounts by providing any of the following combination:
i. Investor Name, Country, State
ii. Investor Name and Company
iii. Folio Number as per certificate
iv. Investor Name, Type of Investment, Company
v. Investor Name and Father/Husband Name