Posts Tagged ‘Annual General Meeting (AGM)’


Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012 – Clarification on filing of form 5 INV

Circular No. 20/2012, dated 01.08.2012

As per the Circular No. 17/2012, dated the 23rd July, 2012, the Companies are required to file one Form 5 INV each year for furnishing complete information on unpaid/unclaimed amounts lying with companies as on the date of Annual General Meeting of that year, in pursuance of Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, published in the Gazette of India Part II section 3 sub-section (i) vide Notification No. G.S.R. 352(E), dated the 10th May, 2012. However, it has come to the notice of the Ministry that some companies have filed multiple Form No. 5 INV in respect of unpaid/unclaimed amounts lying with them instead of filing one form. To remove this anomaly and for better understanding of the issue, it is clarified:

(a)  Any Company, which has filed multiple Form 5 INV while uploading the information for the year 2010-11 on or before the date of issue of this circular, should again file Form 5 INV (single) and upload the details of investors in excel template. This process should be completed by 31st August, 2012.

(b)  All Companies, which have not yet filed Form No. 5 INV are allowed to file Form No. 5 INV along with details of investors in excel template up to 31st August, 2012.

Click here to download the complete text of the above Circular in PDF Format- General Circular No. 20/2012 dated 01.08.2012.

Source: Ministry of Corporate Affairs.

 

 

 


Clarifications with reference to the Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012.

Circular No. 17/2012, dated 23rd July, 2012

The following clarifications are issued with reference to the Investor Education and Protection Fund (uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, published in the Gazette of India Part II section 3 sub-section (i) vide Notification No. G.S.T. 352 (E), dated the 10th May, 2012:

(a)  As per these rules, information is to be filed in Form 5 INV. The cut-off date for filing information in Form 5 INV refers to the date of AGM up to which the information relating to a particular year is to be updated and then filed. Example: for the financial year ended 31.03.2012, where date of AGM is 30.09.2012, the complete information regarding unpaid and unclaimed amounts has to be updated till the date of AGM i.e., up to 30.09.2012 and then this information is to be filed through eform 5 INV within 90 days of the date of AGM i.e. by 29.12.2012.

(b)  The Companies will have to file Form 5 INV for the year 2010-2011 up to 31st July, 2012 or within 90 days of the date of Annual General Meeting, whichever is later.

(c)  Any company which has filed Form No. 5 INV but could not upload correct excel template within 14 days from the date of filing Form 5 INV, can file details of investors in excel template up to 31st August, 2012,

(d)  The Companies are required to file one Form No. 5 INV each year for furnishing information on unpaid/unclaimed amounts lying with companies as on the date of Annual General Meeting.

Click here to download the complete text of the above Circular in PDF Format- General Circular No. 17/2012 dated 23.07.2012.

Source: Ministry of Corporate Affairs.

 

 

 


MCA Notification on Investor Education and Protection Fund (Uploading of Information Regarding unpaid and Unclaimed Amounts Lying with Companies) Rules, 2012

The Ministry of Corporate Affairs has notified that Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, has mandated every company to file eForm 5INV containing the information of unclaimed and unpaid amounts as referred to in subsection (2) of section 205C of the Companies Act, 1956.

As per the notification this information is required to be filed every year within a period of 90 days after the holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 166 of the Act, and every year thereafter till completion of the seven years’ period. The information is to be filed in Form 5- INV as per the above mentioned rules; and thereafter an excel sheet containing detailed investor wise details is to be filed separately. The e Form, the excel template and detailed steps are provided in the IEPF application link on the portal www.iepf.gov.in. For financial year ended on 31st March 2011, the eForm should be filed latest by 31st July 2012.

For more details the investors have been advised to visit the website www.iepf.gov.in  and the Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012.

Source: Press Information Bureau.