Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021. - G.S.R. 888 (E) - Companies Law
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IEPF Authority share transfer restrictions tightened; funds received for minority shareholders creditable to IEPF after verification. The amendment restricts transfer or dealings in shares held in the Authority's DEMAT account to returning shares to claimants or transfers under specified sub-rules, and permits the Authority to receive amounts paid on behalf of minority shareholders under section 236 after verifying statutory conditions and company reports, crediting proceeds to a separate Fund ledger; companies must remit such amounts to the specified IEPF account and file Form IEPF-7 within thirty days, while the Authority bears no liability and claimants receive only amounts credited without interest.
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IEPF Authority share transfer restrictions tightened; funds received for minority shareholders creditable to IEPF after verification.
The amendment restricts transfer or dealings in shares held in the Authority's DEMAT account to returning shares to claimants or transfers under specified sub-rules, and permits the Authority to receive amounts paid on behalf of minority shareholders under section 236 after verifying statutory conditions and company reports, crediting proceeds to a separate Fund ledger; companies must remit such amounts to the specified IEPF account and file Form IEPF-7 within thirty days, while the Authority bears no liability and claimants receive only amounts credited without interest.
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