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Form 5 inv

Mrs.n (CS, LL.B ) (407 Points)

23 July 2012

Dear all ,

Regarding filing of form 5 inv for 31.03.2011 , my query is as under

1) as on date of 31.03.2011 my balance sheet is having "x" amount consist of dividend declared in 03-04,04-05, 05-06 ,06--07(interim dividend) and 07-08.DO I HAVE TO FILL (5) FORMS FOR EACH YEAR ?

2) from the above "x" amount we have transfered amount pertaining to 03-04 to IEPFUND on NOV-2011.IS ANY NEED TO FILE FORM 5 INV FOR THIS 03-04 ALSO? AS CIRCULAR SAYS AMOUNT SHOULD BE UPDATED TILL AGM AS AGM WAS ON 30..09.2011?

3) EXCEL trmplate having too manyb technical problem , as there will be extension of any deadline beyond 31.07.2012 ?

pls pls suggest

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12 Replies

zankhana Trivedi (Company Secretary) (462 Points)
Replied 24 July 2012

Hi,

1) unpaid dividend data as of AGM date is required to be mentioned in form 5INV. So what u have to do is u will have to club all the dividend account unpaid balances and mentioned that amount in Form 5INV. Suppose ------- for example as of AGM date

For X account ur unpaid balance is Rs. 100

For Y account ur unpaid balnce is Rs. 500

For Z account ur unpaid balance is Rs. 1000

Yu have to club all these amount i.e. 1600 will be mentioned in Form 5INV and no need to file seperate form for each dividend account.

However u may file excel sheet seperatly for each dividend account after entering User ID, Password (provided in the acknowledgement at the time of upload of eForm 5-INV) along with SRN of Form 5-INV and CIN.

2) you need not to file the details of unpaid dividend balance which u have already transferred to IEPF. since after such transfer there would NIl balance in that account.

3) Regarding excel sheet please specify the difficulties faced by you.

Thanks & Regards

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Rakesh Dhanuka (Company Secretary) (478 Points)
Replied 25 July 2012

Query regarding excel sheet - after entering the CIN number if i click on prefil then it shows an error. I have even downloaded the prerequisite software but then too the same problem.

zankhana Trivedi (Company Secretary) (462 Points)
Replied 25 July 2012

First enter the CIN then click prefill-- error message will come. then press ok on error message. then you can type the Company's name in the field.

Mrs.n (CS, LL.B ) (407 Points)
Replied 25 July 2012

Dear zankhana

Thanks a lot for your help.

one more query

1) Whether the diividend declared for fin.year 2011 that figure will have to file in form 5 inv or not ?

My interpretation to circular is as follows

1) As per MCA Clarification -dated 12.06.2012 ---we have to take figure shown as unclaimed /unpaid in balance sheet which is on liability side (correct me if i am wrong). so dividend for financial year 31.03.2011 -- will be proposed dividend in 2011- and this must have declared in agm lets say 30.09.2011---and cut off date is agm date so on agm of 2011 , dividend declared of 2011 the whole will become unpaid in october after 30 days of agm --- so how can we file information of 2011 ?logically dividend of 2011 will be unpaid in 2012 and dividend of 2012 will become unpaid in 2013 and so on......

so conclusion , dividned declared of 31.03.2011--details not to be filed .and also see the last point no.2 on mca clarification dated 12.06.2012

pls correct and suggest urgently on this

zankhana Trivedi (Company Secretary) (462 Points)
Replied 25 July 2012

suppose u r filing upaid data for the FY 2011 then say for example ur AGM date is 30/09/2011 then unpaid data as of 30/09/2011 need to be filed. Since the Final dividend for the FY 2011 would have been declared in agm i.e. 30/09/2011, obviously, the whole amount would have been unpaid. so that would become a part of filing for the FY 2012 and not for the FY 2011.

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Mrs.n (CS, LL.B ) (407 Points)
Replied 25 July 2012

Thanks dear zankhana

so in nutshell--- i m not filing the data of divinded declared of 2011 now. As that will be filed within 90 days of AGM date of 2012 AGM.

Regards

Joshi

pravin joshi (student) (59 Points)
Replied 25 July 2012

thanks trevedi that was useful

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 26 July 2012

Ministry had issued Investor Education and Protection Fund (Uploading of Information regarding unpaid an unclaimed amounts lying with companies) Rules, 2012 on 10^th 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 31^st 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 31^st 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.

Nitish Lath (Accounts Manager) (43 Points)
Replied 27 July 2012

A Private Company Which does not have any Unclaimed Amount of Share Application Money & Unpaid Dividend.Is it mandatory to file Return of Investor Protection & Education Fund for Such Company.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 28 July 2012

A Company having any unclaimed or unpaid amount as specified under Section 205C(2) only is required to disclose it by way of filing form 5 INV.

So, if the Company does not have any unpaid money, it is not required to file form5 INV.

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CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 28 July 2012

To remove the doubts i would like to quote an example:

Suppose we are filing form 5 INV for the financial year 2011 and the balance of unpaid dividend account is Rs. 100. On 30th September, 2011 the Company has declared a dividend of Rs. 50 which was paid on 10th October, 2011

Therefore, when we will file form 5 INV the figures shall be the opening balance as on the date of AGM i.e. on 30 September, 2011. Secondly, the amount of dividend shall be categorised unpain only after 37 days of its declaration and the unpaid details of the current year dividend shal lbe disclosed in next year.

Yashaswini.M.R (CA and CS Final) (50 Points)
Replied 18 July 2014

Dear all ,

Regarding filing of form 5 inv for 31.3.2012

my query is as under

1) as on date of 31.03.2012 my balance sheet is having "x" amount consist of dividend declared in 05-06,06-07,07-08,08-09,09-10,11-12.DO I HAVE TO FILL (5) FORMS FOR EACH YEAR ?

if yes..for the year 2005-06,Following error have occured in the prescrutiny

Error:Financial Year date must be on after 30 sep 2011.

2)Particular company has not transferred the Amount of unclaimed dividend for the year 05-06,06-07,07-08,08-09,09-10,10-11 and 11-12 to IEPF. what is remedy for that?

Please suggest me.