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

Rule 6 - Rule - Companies Law - 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 transferred to the Fund even though some dividend warrants may not have been encashed: Provided .....

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nsferring 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 such shareholders and their folio number or DP ID -Client ID are available on their website duly mentioning the website address. (b .....

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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 shall inform the depository by way of corporate action, where the shareholders have their accounts for transfer in favour of the Authority. (ii) on receipt of such intimation, the depository shall effect the transfer of shares in favour of DEMAT account of the Authority. (d) For the purposes of effecting the transfer where the shares are held in p .....

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.. for purpose of transfer to IEPF and the word duplicate shall be stamped or punched in bold letters on the first page of the share certificate; (iii) particulars of every share certificate issued as above shall be 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 shall inform the depository by way of corpor .....

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or 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 DEMAT account of the Authority. (8) All benefits accruing on such shares e.g., bonus shares, split, consolidation, frac .....

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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 security holder and credit the amount to the Fund and a separate ledger account shall be maintained for such proceeds. (12) .....

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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 transferred to the Fund even though some dividend warrants may not have been encashed. (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, namely:- (a) The shall info .....

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three months from the date of Coming into force of these rules, the company shall initiate the aforesaid procedure immediately and transfer the shares on completion of three months; (b) In case, In where there is a specific order of Court or Tribunal or statutory Authority 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 F .....

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depository shall effect the transfer of shares in favour of the Fund in its records. (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), duplicate certificate for each such shareholder shall be issued and it shall be .....

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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 receipt of the duly filled transfer forms along with the duplicate share certificates, the Board or its Committee shal .....

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in 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 excluded 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 d .....

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