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Amount Credited to the Investor Education and Protection Fund

Under Section 205C of the Companies Act, 1956, companies are required to transfer such amounts as have remained unclaimed and unpaid with them on account of dividends, matured deposits and debentures, for a period of seven years from the date that they became due for payment, to Investor Education and Protection Fund (IEPF). Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister for Corporate Affairs, said that an amount of Rs. 693.37 crore has been credited to the IEPF, which forms part of the Consolidated Fund of India (CFI), for the period 2001-02 to 2012-13. No instance of a company transferring such unclaimed funds to its balance sheet has so far come to the notice of the Government.

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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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