Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Amendment Rules, 2014 - F. No. 5/29/2013-IEPF - Companies Law
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Unpaid and unclaimed amounts: companies and successor banks must identify and report dormant dividend funds annually for Fund uploading. A new definition of corresponding new bank is added and the rules require companies and corresponding new banks to identify funds transferred to the Unpaid Dividend Account under the Banking Companies transfer provisions which remain unpaid or unclaimed for the dormant period, to be done annually within the prescribed post-AGM timeframe. Form 5INV is amended to substitute 'company' with 'company and corresponding new bank.'
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.
Unpaid and unclaimed amounts: companies and successor banks must identify and report dormant dividend funds annually for Fund uploading.
A new definition of corresponding new bank is added and the rules require companies and corresponding new banks to identify funds transferred to the Unpaid Dividend Account under the Banking Companies transfer provisions which remain unpaid or unclaimed for the dormant period, to be done annually within the prescribed post-AGM timeframe. Form 5INV is amended to substitute "company" with "company and corresponding new bank."
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