Clarification regarding due date of transfer of shares to IEPF Authority (General Circular No 06/2017)

General Circular No. 06/2017

No. 11/06/2017-IEPF

Government of India

Ministry of Corporate Affairs 

"A" Wing, 5th Floor, Shastri Bhawan

Dr. R.P. Road, New Delhi 110001

Date 29.05.2017

To

All Stakeholders,

Nodal Officer’s (IEPF) of Concerned Companies

All Regional Director’s & Registrar of Companies of Min of Corp. Affairs


Subject: Clarification regarding due date of transfer of shares to IEPF Authority

Sir/Madam,

Pursuant to second proviso to Rule 6 of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 notified on February 28, 2017, where the seven year period provided under sub-section (5) of section 124 is completed during September 7, 2016 to May 31, 2017, the due date for transfer of such shares by companies is May 31, 2017.

2. The modalities for transfer/ transmittal of shares from companies accounts to the demat account of the IEPF Authority are being finalized with the depositories. IEPF Authority is considering to open special Demat account and till opening of demat accounts, the due date for transfer of shares stands extended. In view of this, a revised due date for transfer/ transmittal of shares shall be notified soon.

3. Companies, are advised to complete all formalities, as laid down in the aforesaid Rules without waiting for the fresh dates. Companies which have already published notice in newspaper and send notices to the shareholders, need not give the fresh notices again due to this extension.

4. This issues with the approval of Competent Authority.

Yours faithfully.

(Monika Gupta)

Deputy Director

Copy to:-

1. CEO, IEPF Authority

2. Sr. AO, IEPF Authority/ AGM, IEPF Authority

3. E-Governance Cell/ MCA and to place this circular on Ministry’s/ Authority website.

4. Guard File.