Transer of unpaid dividend

This query is : Resolved

Bharat Kapoor (Querist)
Follow

10 August 2010 As per Section 205A(5)
2)Amount lying in unpaid dividend account which remains unpaid for a period of 7 years from the date of transfer of amount to Unpaid Dividend Account should be transferred to IEPF. But the time limit for depositing the amount after 7 years is not mentioned

Please inform me the time limit within which the Company should deposit the unclaimed amount into IEPF after the expiry of 7 year and please also refer to the relevant section.

Please it is urgent.

Jagruti (CS)

Jagruti (CS) (Expert)
Follow

10 August 2010 Time limit for transfer to IEPF account, after expiry of 7 years from date the dividend become due, is 30 days from the date it becomes due for credit.

Refer IEPF (Awareness & protection of Investors) Rules 2001 for the same.

After deposit the amount file Form 1 with ROC, staying the details of transfers