TaxTMI 
TaxTMI 
Unclaimed Investment Fund with Companies
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....nclaimed Investment Fund with Companies <br>News and Press Release<br>Dated:- 1-8-2014<br><BR>The Ministry of Corporate Affairs does not collect any information regarding "unclaimed investment funds".....
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.... However, under section 205C of the Companies Act, 1956, Companies are required to upload data on the Ministry's website about unclaimed and unpaid amounts on account of dividends, matured deposits, d....
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....ebentures etc. lying with them. Based on data uploaded by Companies, ₹ 3454.29 crore representing such amounts was with the Companies as on 31.03.2014. These amounts would be transferred to Inv....
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....estor Education and Protection Fund (IEPF) after expiry of seven years, if these remain unpaid and unclaimed on expiry of that period. Based on statutory filings Companies reporting unclaimed/unpaid ....
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....dividends in their Balance Sheets but not reporting the details in the relevant forms have been identified. Records of such Companies are required to be scrutinized and a Show Cause Notice issued befo....
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....re a final list can be prepared. No instance of a Company transferring unclaimed dividends to its balance sheet has so far come to the notice of the Government. This information was given by MoS in ....
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....the Ministry of corporate Affairs, Smt. Nirmala Sitharaman in a written reply in LokSabha today.<BR> News - Press release - PIB....