9911796707
TMI BlogManner of transfer of shares under sub-section (6) of section 124 to the Fund.X X X X Extracts X X X X X X X X Extracts X X X X ..... l be deemed to be 31st October, 2017.] 3[Provided further that transfer of shares by the companies to the Fund shall be deemed to be transmission of shares and the procedure to be followed for transmission of shares shall be followed by the companies while transferring the shares to the fund.] 8[Explanation.- For removal of all doubts, it is hereby clarified that all shares in respect of which dividend has been transferred to Investor Education and Protection Fund on or before the 7th September 2016, shall also be transferred by the company in the name of Investor Education and Protection Fund] (2) For the purposes of effecting transfer of such shares, the Board shall authorise the Company Secretary or any other person to sign the necessary documents. (3) The company shall follow the following procedure while transferring the shares, namely:- (a) The company shall inform, at the latest available address, the shareholder concerned regarding transfer of shares three months before the due date of transfer of shares and also simultaneously publish a notice in the leading newspaper in English and regional language having wide circulation informing the concerned that the names of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll also attach a copy of the public notice published under clause (a) of sub-rule (3) of rule 6 in Form No IEPF-4.] (6) The voting rights on shares transferred to the Fund shall remain frozen until the rightful owner claims the shares: Provided that for the purpose of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the shares which have been transferred to the Authority shall not be excluded while calculating the total voting rights. 10[(7)The company shall maintain all such statements filed under sub - rule (5) in the same format along with all supporting documents and the Authority shall have the powers to inspect such records.] 11[(8) All benefits accruing on such shares like bonus shares, split, consolidation, fraction shares and the like except right issue shall also be credited to such DEMAT account [by the company which shall send a statement to the Authority in Form No. IEPF-4 within thirty days of the corporate action containing details of such transfer.] 12[(9) The shares held in such DEMAT account shall not be transferred or dealt with in any manner whatsoever except for the purposes of transferring th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further dividend received on such shares shall be credited to the Fund and a separate ledger account shall be maintained for such proceeds] 5[(13) Any amount required to be credited by the companies to the Fund as provided under sub-rules (10), (11) and sub-rule (12) shall be remitted 17[online to the Authority within a period of thirty days from the date such amount becomes due] 6[and the details thereof shall be furnished to the Authority in Form No. 16[IEPF- 1] 18[****].] 14[(13A) Any amount required to be credited by the companies to the Fund as provided under sub-rule (11A) shall be remitted 19[online to the Authority within a period of thirty days from the date such amount becomes due] and the details thereof shall be furnished to the Authority in Form No. 16[IEPF- 1] 20[****].] (14) Authority shall furnish its report to the Central Government as and when noncompliance of the rules by companies came to its knowledge.] ******************** Notes:- 1. . Substituted vide G.S.R. 178(E) - Dated 28-2-2017, w,e,f, 28th February, 2017, before it was read as, "6. Manner of transfer of shares under sub-section (6) of section 124 to the Fund. (l) The shares shall be credite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany Secretary or the person authorised by the Board shall make an application, on behalf of the concerned shareholders, to the company, for issue of duplicate share certificates; (ii) on receipt of the application under clause (a), duplicate certificate for each such shareholder shall be issued and it shall be Stated on the face of it and be recorded in the register maintained for the purpose, that the duplicate certificate is "Issued in lieu of share certificate No... for purpose of transfer to IEPF" and the word "duplicate" shall be stamped or punched in bold letters across the face of the share certificate; (iii) particulars of every share certificate issued as above shall entered forthwith in a register of renewed and duplicate share certificates maintained in Form NO. SH 2 as specified in the Companies (Share Capital and Debentures) Rules, 2014; (iv) after issue of duplicate share certificates. the Company Secretary or the person authorised by the Board, shall sign the necessary Form No. SH 4 i.e" securities transfer Form as specified in the Companies (Share Capital and Debentures) Rules, 2014, for transferring the shares in favour of the Fund; (v) on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be maintained for such proceeds. (12) Any further dividend received on such shares shall be credited to the Fund and a separate ledger account shall be maintained for such proceeds." 2. Substituted vide Notification no G.S.R. 1267 (E) dated 13-10-2017, before it was read as, "Provided further that in cases where the period of seven years provided under sub-section (5) of section 124 has been completed or being completed during the period from 7th September, 2016 to 31st May, 2017, the due date of transfer of such shares shall be deemed to be 31st May, 2017." 3. Inserted vide Notification no G.S.R. 1267 (E) dated 13-10-2017 4. Substituted vide Notification no G.S.R. 1267 (E) dated 13-10-2017, before it was read as, "(d) For the purposes of effecting the transfer where the shares are held in physical form- (i) the Company Secretary or the person authorised by the Board shall make an application, on behalf of the concerned shareholders, to the company, for issue of duplicate share certificates; (ii) on receipt of the application under clause (a), a duplicate certificate for each such shareholder shall be issued and it shall be stated on the face of it and be recorded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nserted vide Notification No. G.S.R. 888 (E) dated 28-12-2021 15. Substituted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "IEPF 3" 16. Substituted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "IEPF 7" 17. Substituted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "into the specified account of the IEPF Authority maintained in the Punjab National Bank" 18. Omitted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "within thirty days from the date of remittance or within thirty days from the date of enforcement of these Rules, as the case may be" 19. Substituted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "into the specified account of the IEPF Authority maintained in the Punjab National Bank" 20. Omitted vide Notification No. G.S.R. 414(E) dated 16-07-2024 before it was read as, "within thirty days from the date of remittance or within thirty days from the date of commencement of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Ref ..... X X X X Extracts X X X X X X X X Extracts X X X X
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