विज्ञप्तियां उर्दू विज्ञप्तियां फोटो निमंत्रण लेख प्रत्यायन फीडबैक विज्ञप्तियां मंगाएं Search उन्नत खोज
RSS RSS
Quick Search
home Home
Releases Urdu Releases Photos Invitations Features Accreditation Feedback Subscribe Releases Advance Search
home  Printer friendly Page home  Email this page
English Release 25-October 2014
Date Month Year
  • President's Secretariat
  • Speech by the President of India Shri Pranab Mukherjee on the Occasion of Release of a Commemorative Postage Stamp on Anagarika Dharmapala
  • President of India Releases a Commemorative Postage Stamp on Anagarika Dharmapala
  • Prime Minister's Office
  • PM greets the Nation on auspicious occasion of Bhai Dooj
  • Ministry of Finance
  • President of India to Inaugurate Three Day Accountants’ General Conference on Monday

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

------------------------

KKP


(Release ID :89788)

Web Ratana This site is winner of Platinum Icon for 'Outstanding Web Content' Web Ratna Award'09 presented in April 2010
Site is designed and hosted by National Informatics Centre (NIC),Information is provided and updated by Press Information Bureau
"A" - Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi - 110 001 Phone 23389338
Go Top Top

उपयोग संबंधी शर्तें स्वोत्वाधिकार नीति गोपनीयता संबंधी नीति हाइपरलिंकिंग नीति Terms of Use Copyright Policy Privacy Policy Hyperlinking Policy