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of <h1>No Penal Action for Companies Delaying Dividend Transfers to IEPF by March 31, 2003, Says Ministry Circular.</h1> The circular from the Ministry of Company Affairs addresses the compliance issues related to the transfer of unpaid and unclaimed dividends to the Investors' Education Protection Fund (IEPF). It acknowledges the practical difficulties faced by companies in transferring these amounts, such as varied interest dates on debt instruments and manual record maintenance. The Ministry has decided that companies that complied by depositing the requisite amounts into the IEPF by March 31, 2003, will not face penal action for delays. Regional Directors and Registrars are instructed to consider this when contemplating actions against companies that did not meet the deadline.
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