Transfer of shares to IEPF Authority: companies must transfer affected shares into designated demat accounts and remit related cash benefits. Companies must transfer shares subject to unpaid/unclaimed dividends whose seven year period completed between September 7, 2016 and October 31, 2017 to the IEPF Authority's designated demat accounts by way of corporate action, supplying prescribed shareholder information to the respective depository. Any cash benefits arising from those transferred shares (such as dividends, delisting proceeds, or winding up entitlements) shall be remitted to the Authority's linked bank account with Punjab National Bank, and no other amounts shall be transferred to that account.
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 shares to IEPF Authority: companies must transfer affected shares into designated demat accounts and remit related cash benefits.
Companies must transfer shares subject to unpaid/unclaimed dividends whose seven year period completed between September 7, 2016 and October 31, 2017 to the IEPF Authority's designated demat accounts by way of corporate action, supplying prescribed shareholder information to the respective depository. Any cash benefits arising from those transferred shares (such as dividends, delisting proceeds, or winding up entitlements) shall be remitted to the Authority's linked bank account with Punjab National Bank, and no other amounts shall be transferred to that account.
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