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of <h1>Companies Must Transfer Unclaimed Shares to IEPF by October 31, 2017; Details on Demat Account Setup and Cash Benefits.</h1> The circular from the Ministry of Corporate Affairs mandates companies to transfer shares to the Investor Education and Protection Fund (IEPF) Authority by October 31, 2017, if dividends have remained unpaid or unclaimed for seven years. The IEPF Authority has established demat accounts with NSDL and CDSL through Punjab National Bank and SBICAP Securities Limited. Companies must transfer shares via corporate action and provide shareholder information to the depositories. Reduced charges for account maintenance have been agreed upon, and any cash benefits from these shares must be transferred to a designated bank account. Only specified amounts should be transferred to this account.
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