Transfer of company shares to investor protection fund must be credited to its DEMAT account within thirty days and reported. Rule 6A requires companies to credit shares due for transfer to the Investor Education and Protection Fund's DEMAT account within thirty days, treating such transfers as transmission of shares and following transmission procedure. The Board must authorise an officer to sign documents, effect transfers by corporate action for dematerialised and physical holdings (issuing endorsed share certificates then converting to DEMAT), preserve records, and file a prescribed statement within thirty days. Voting rights on transferred shares remain frozen; benefits, dividends, delisting and winding-up proceeds are to be credited to the Fund and separately accounted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of company shares to investor protection fund must be credited to its DEMAT account within thirty days and reported.
Rule 6A requires companies to credit shares due for transfer to the Investor Education and Protection Fund's DEMAT account within thirty days, treating such transfers as transmission of shares and following transmission procedure. The Board must authorise an officer to sign documents, effect transfers by corporate action for dematerialised and physical holdings (issuing endorsed share certificates then converting to DEMAT), preserve records, and file a prescribed statement within thirty days. Voting rights on transferred shares remain frozen; benefits, dividends, delisting and winding-up proceeds are to be credited to the Fund and separately accounted.
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