Unpaid dividend amount

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CS Shivatanu Mitra (Querist)
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27 August 2012 Dear All,

there is some unpaid dividend amount lying in the bank, after 7 years it will be transfered to IEPF account.

Is there any provision to get that amount back from IEPF by writting an application or by filling a case.

Please suggest
Thanks in Advance.

sunil rao malla

sunil rao malla (Expert)
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27 August 2012 There is no such provision to get back the amount which is transferred to IEPF.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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27 August 2012 I second Mr Sunil's reply. There aren't any provision to get back the funds transferred to IEPF.

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CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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27 August 2012 Once the amount is transferred to IEPF Account, there is no provision to get it back.

It is a clear provision after seven years you have to transfer the money to the IEPF account and there is no question to get it back.

CS Shivatanu Mitra

CS Shivatanu Mitra (Querist)
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29 August 2012 Thank You to all of you.