IEPF deposit compliance precludes prosecution for delayed deposits under the Companies Act when remedial deposit was actually made. Companies that actually deposited the requisite unpaid dividends and related amounts into the Investor Education and Protection Fund within the prescribed remedial period satisfy the objective of earlier circulars and should not be prosecuted for delay; regulatory authorities should proceed with prosecutions only where no such compliance was effected and withdraw prosecutions already filed against companies and their directors that met the deposit requirement within that period.
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.
IEPF deposit compliance precludes prosecution for delayed deposits under the Companies Act when remedial deposit was actually made.
Companies that actually deposited the requisite unpaid dividends and related amounts into the Investor Education and Protection Fund within the prescribed remedial period satisfy the objective of earlier circulars and should not be prosecuted for delay; regulatory authorities should proceed with prosecutions only where no such compliance was effected and withdraw prosecutions already filed against companies and their directors that met the deposit requirement within that period.
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