Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals News SMS Articles Highlights
        Home        
Extracts
Home List
← Previous Next →

Manner of transfer of shares under sub-section (6) of section 124 to the Fund.

Rule 6 - Rules - Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 - Rule 6 - 1[6. - (1) The shares shall be credited to DEMAT Account of the Authority to be opened by the Authority for the said purpose, within a period of thirty days of such shares becoming due to be transferred to the Fund: Provided that, in case the beneficial owner has encashed any dividend warrant during the last seven years, such shares shall not be required to be transfe .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the procedure to be followed for transmission of shares shall be followed by the companies while transferring the shares to the 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 s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ividend or where such shares are pledged or hypothecated under the provisions of the Depositories Act, 1996 or shares already been transferred under sub-rule (1) above, the company shall not transfer such shares to the Fund: Provided that the company shall furnish details of such shares and unpaid dividend to the Authority in Form No. IEPF 3 within thirty days from the end of financial year. (c) For the purposes of effecting the transfer, where the shares are dealt with in a depository- (i) the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

pany, for issue of a new share certificate; (ii) on receipt of the application under clause (a), a new share certificate for each such shareholder shall be issued and it shall be stated on the face of the certificate that "Issued in lieu of share certificate No..... for the purpose of transfer to IEPF" and the same be recorded in the register maintained for the purpose; (iii) particulars of every share certificate shall be in Form No. SH-I as specified in the Companies (Share Capital a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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. (7) The company shall maintain the details of shareholding of each individual shareholders whose shares have been credited to the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

isted, the Authority shall surrender shares on behalf of the shareholders in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 and the proceeds realised shall be credited to the Fund and a separate ledger account shall be maintained for such proceeds. (11) In case the company whose shares or securities are held by the Authority is being wound up, the Authority may surrender the securities to receive the amount entitled on behalf of the secu .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

and the details thereof shall be furnished to the Authority in Form No. IEPF 7 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.] (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. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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, namely:- (a) The 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 circulatio .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

thority restraining any transfer of such shares and payment of dividend, the company shall not transfer such shares to the Fund: Provided that the company shall furnish details of such shares and unpaid dividend to the Authority in Form No. IEPF 3 within thirty days from the end of financial year; (c) For the purposes of effecting the transfer where the Shares are dealt with in a depository,- (i) the Company Secretary or the person authorised by the Board shall sign on behalf of such shareholder .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he Companies (Share Capital and Debentures) Rules, 2014, for transferring the shares in favour of the Fund; (v) on receipt of the duly filled transfer forms along with the duplicate share certificates, the Board or its Committee shall approve the transfer and thereafter the transfer of shares shall be effected in favour of the Fund in the records of the company. (4) The company or depository, as the case may be, shall preserve copies of the depository instruction slips, transfer deeds and duplic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

cluded while calculating the total voting rights. (7) Once the physical shares are transferred in the name of the Authority, the Authority Shall dematerialise these shares and it shall keep only those shares in physical form, where dematerialisation of shares is not possible. (8) The Authority shall maintain IEPF Suspense account (name of the company) with depository participant on behalf of the shareholders who are entitled for the shares and all benefits accruing on such shares e.g. bonus shar .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f the shareholders in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 and the proceeds realised shall be credited to the Fund and a separate ledger account shall be maintained for such proceeds. (11) In case the company whose shares or are held by the Authority is being wound up, the Authority may surrender the securities to receive the amount entitled on behalf of the security holder and credit the amount to the Fund and a ledger account .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Let's just recapitulate:

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.