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Transfer of unclaimed dividend amout to IEPF

zankhana Trivedi (Company Secretary) (462 Points)

09 September 2009

Can anyone provide me the detail procedure for transfer of unclaimed dividend amount to Investor Education Protection Fund pl.???

Thanks & Regards

Zankhana Joshi

Baroda (Gujarat)

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5 Replies

J. Manivannan (Advocate & IP) (242 Points)
Replied 09 September 2009

Section 205C -is prescribed the following amounts should be credited to IEPF with in 30 days from the date of it’s become as due:

a. amounts in the unpaid dividend accounts of companies;

b. the application moneys received by companies for allotment of any securities and due for refund;

c. matured deposits with companies;

d. matured debentures with companies;

e. the interest accrued on the amounts referred to in clauses (a) to (d);

f. grants and donations given to the Fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund; and

g. The interest or other income received out of the investments made from the fund.

Provided that no such amounts referred to in clauses (a) to (d) shall form part of the Fund unless such amounts have remained unclaimed and unpaid for a period of seven years from the date they became due for payment.

Pass a board resolution

Remittance Mode:

Pay Miscellaneous Fee → Pay Fee for IEPF → Enter particulars of Payment and Amount → pay either challan or online mode → get SRN.

Form-1 can be file with SRN of said remittance.

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Davinder kaur (COMPANY SECRETARY) (145 Points)
Replied 03 September 2010

Steps to be undertaken for transfer of Unpaid/ Unclaimed dividend to Investor Education & Protection Fund is given in details in the file Attached:-

Attached File : 29 sec 205 c transfer of unpaid dividend to investors education and protection fund.doc downloaded: 3398 times

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Aditi (cs trainee) (90 Points)
Replied 13 August 2012

please tell how do we get the SRN and the challan for depositing the amounts to IEPF.??

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Charu Srivastava (Company Secretary) (4210 Points)
Replied 13 August 2012

For better understanding visit the following site
https://www.iepf.gov.in/

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Ram Kumar (188 Points)
Replied 09 February 2016

Dear member,

First read sec. 205C about transfer of unclaimed dividend to IEPF.

Procedure:Off line payment

1. First generate the challan for offline payment under mis. payments on MCA for transfer of unclaimed dividend to IEPF.

2. Then make DD in the name of Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi.

3. Then deposit the challan with DD of unclaimed Dividend amount at the designated Bank.

4. After confirmation of credit of challan of unclaimed dividend at MCA site, You have to file form 1INV for payment of unclaimed dividend to IEPF at MCA with the attachment i.copy of bank paid challan and generate the challan of Form 1INV and its approval.

Procedure:On-line payment

Pay Miscellaneous Fee → Pay Fee for IEPF → Enter particulars of Payment and Amount → online mode → get SRN.

e-form-1INV can be file with SRN of said remittance.

Statement of unclaimed and unpaid amounts:-

The companies are required to file one Form 5INV each year containing details of unclaimed and unpaid amounts of previous seven years pending as on date of AGM of that year. The form is to be filed every year within a period of 90 days after the holding of Annual General Meeting or the date on which the AGM should have been held. After uploading 5INV, stakeholders Need to give investors details in a excel file with in 15 days of uploading of form 5INV.

Regards,

Ram Kumar