Transfer of shares to
IEPF Account
Ministry of Corporate Affairs issued General Circular No.
06/2017 dated 29th May, 2017.
As per Rule 6 of IEPF (Accounting, Audit, Transfer and Refund)
Amendment Rules, 2017 where the seven year period provided under sub-section
(5) of section 124 has been completed or being completed during period from
September, 7, 2016 to May 31, 2017, the due date of transfer of such shares by
companies is May 31, 2017.
Till finalization of modalities of transfer/transmittal of shares
from companies account to demat account of IEPF, due date for transfer of
shares shall stand extended and revised due date for transfer/transmittal of
shares shall be notified soon.
Accordingly Companies have been advised to complete all
formalities, as laid down in the aforesaid Rules without waiting for fresh
dates. Companies which have already published notice in newspaper and send
notices to the shareholders need not give the fresh notices again due to this
extension.
The circular can be downloaded from
following link:
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