Dear all, can depositor can claim money from investor protection fund?
pls clarify
cavickyshah @ gmail.com
CA.VATSAL SHAH (SERVICE) (202 Points)
04 June 2008Dear all, can depositor can claim money from investor protection fund?
pls clarify
cavickyshah @ gmail.com
Preeti Gandhi
(Company Secretary)
(90 Points)
Replied 04 June 2008
In terms of explanation to Section 205C , no claim shall lie against the Fund
Explanation : For removal of doubts, it is hereby declared that no claims shall lie against the fund or the company in respect of individual amounts which were unclaimed and unpaid for a period of seven years from the dates that they first become due for payment and no payment shall be made in respect of any such claims.
It is always advisable to inform all your investors before depositing unclaimed dividend to the Investor Education and Protection fund, so as to give chance to them for claiming the same.
Regards
Preeti Gandhi
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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