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English Release 30-October 2014
Date Month Year
  • President's Secretariat
  • President to flag off the ‘Run for Unity’ tomorrow at Rashtrapati Bhavan
  • Vice President's Secretariat
  • STUDENTS FROM J&K UNDER AEGIS OF SADBHAVNA EDUCATIONAL /MOTIVATIONAL TOUR CALL ON VICE PRESIDENT
  • Vice President Inaugurates 7th Asia-Pacific Heart Rhythm Scientific Session
  • Prime Minister's Office
  • PM condoles loss of lives in Sri Lanka landslide
  • Shri Azim Premji calls on the Prime Minister
  • Goa CM calls on PM
  • Department of Space
  • Engineers’ Conclave-2014 to be held in Bangalore
  • Min of Agriculture
  • Shaida Moh. Abdali Afghanistan Ambassador Calls on Union Agriculture Minister Shri Radha Mohan Singh
  • Good Performance of NCDC
  • Min of Consumer Affairs, Food & Public Distribution
  • Sugar production estimated 250.46 lakh tons during 2014-15
  • Ministry of Finance
  • Government Announces Measures for Fiscal Prudence and Economy; Every Ministry / Department to Effect A Mandatory 10% Cut in Non-Plan Expenditure; Utmost Economy to be Observed in Organizing Conferences/Seminars/Workshops; Ban on Purchase of Vehicles; in all Cases of Air Travel, the Lowest Air Fare Tickets Available for Entitled Class to be Purchased/Procured.
  • Government Committed to Increase Savings Rate in the Country: Secretary, Financial Services;
  • Finance Minister Asks the Senior Officers of the Income Tax Department not to Lose Sight of Domestic Black Money
  • Min of Health and Family Welfare
  • For ending TB, Dr Harsh Vardhan calls for “Power of belief”
  • Min of Home Affairs
  • Activities on Rashtriya Ekta Diwas celebrations on 31st October
  • Union Home Minister Approves Grant of Higher Compensation to Victims of Riots, Naxal and Terrorist Violence
  • Min of Human Resource Development
  • Ministry of HRD to Host 2nd Meeting of SAARC Education Ministers
  • Min of Minority Affairs
  • Shri Arvind Mayaram is New Secretary of Minority Affairs
  • Min of Personnel, Public Grievances & Pensions
  • Early closure of Government Offices today in connection with the “Run for Unity” flag off at Vijay Chowk
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 85.14 per bbl on 29.10.2014
  • Min of Urban Development
  • Japan offers assistance in promoting Intelligent Transport Systems
  • Ministry of Water Resources
  • Uma Bharti to Visit Kanpur Tomorrow
  • Min of Women and Child Development
  • Smt. Maneka Sanjay Gandhi to hold first round of Regional Consultations on Beti Bachao Beti Padhao Scheme in Chandigarh tomorrow

Previous Date

 
Ministry of Corporate Affairs30-November, 2012 18:48 IST
Quantum of UN-Claimed/Unpaid Dividends Lying with the Companies
“7”

           

            The provisions of sections 205, 205A, 205C and 207 of the
Companies  Act, 1956 (Act), read with relevant rules, require the companies to pay/distribute the dividend declared by them within 30 days of declaration and keep the unpaid/unclaimed dividend, if any, in a Special Bank Accounts for a period up to seven years (for subsequent payment to relevant shareholders claimants).  Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that after the expiry of the said period of seven years, the amount is required to be transferred to the Investor Education and Protection Fund (IEPF) set up under section 205C of the Act.  The procedural requirements/mechanism with regard to manner of such transfer has been provided under relevant rules.  Non-compliance with these provisions is a punishable offence and necessary action is taken against the companies in appropriate cases.  Further, in order to protect the interests of the investors and create awareness among them about the amounts of un-claimed and unpaid dividend, deposits and debentures lying in Special Bank Accounts of the companies, a web-site based disclosure framework has been notified by the Government. The Companies Bill, 2011 retains these provisions. Further, the said Bill allows refund of these amounts to the claimants even after such amounts have been transferred to IEPF.

            The quantum of un-claimed and unpaid dividend, deposits and debentures lying with the companies transferred to the Government during the last three years, year-wise is given below:

 

Financial year

     Amount (in Lakh Rs.)

2009-10

1079.88

2010-11

1218.16

2011-12

2090.27

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KKP


(Release ID :89788)

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