Ministry had issued Investor Education and Protection Fund (Uploading of Information regarding unpaid an unclaimed amounts lying with companies) Rules, 2012 on 10th May, 2012 wherein it was mandated to identify the unclaimed and unpaid amount as referred to in section 205C(2)and file the same in form 5 INV within 90 days of the AGM.
To remove the confusion, if any, in the minds of stakeholders, Ministry has issued a Circular on 23rd July, 2012 and has provided clarifications as under:
- The details of unpaid and unclaimed amount shall be upto the date of AGM and it shall be filed within 90 days of the AGM.
- For the Financial Year 2010-11, form 5 INV is required to be filed upto 31st July, 2012 or within 90 days of AGM whichever is later.
- In case any company could not file correct excel template within 14 days of filing form 5 INV, the excel template shall can be uploaded upto 31st August, 2012.
- Companies are required to file 1 form 5 INV each year for furnishing information of unpaid/unclaimed amount lying with companies as on the date of Annual General Meeting.
CAclubindia
