Amendment
in IEPF Rules
Ministry of Corporate Affairs (MCA) has vide notification dated
22 May, 2018 amended the Investor Education and Protection Fund Authority
(IEPF) (Accounting, Audit, Transfer and Refund) Rules, 2016.
IEPF account maintained with Punjab National Bank is to be
credited for the monies in case if the Companies have:
1.
Declared Dividend on shares transferred to IEPF
2.
Proceeds realized on delisting of companies with respect to
shares transferred to IEPF
3.
Proceeds realized on winding up of companies with respect to
shares transferred to IEPF
Now, additionally the Companies are also required have to file Form IEPF 7 with the authority,
containing details of the remittance made, within
30 days from remittance or from the date of enforcement of these Rules as
the case maybe.
The notification can be downloaded from following link:
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