Pursuant to section 205C of the Companies Act, 1956, the Central Government has established a Fund called Investor Education and Protection Fund (IEPF) which is credited inter- alia with the amount of dividend remaining unclaimed and unpaid for a period of 7 years from the date they are transferred to unpaid Account.
On 10th May, 2012, the Ministry of Corporate Affairs has notified Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, whereby companies are required to identify and upload information regarding unclaimed amounts due to be transferred to IEPF on the Ministry`s website and also on its own website.
Accordingly, the details of such unpaid / unclaimed amounts along with their respective due dates for transfer to IEPF are provided for the benefit of investors. The Shareholders / Depositors may please claim their unclaimed / unpaid amount due to them by making a request to the Company giving their particulars before the same are transferred to the IEPF.
Once unclaimed dividend is transferred to IEPF, no claim shall lie in respect thereof either with the Company or IEPF