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Can a resolution for authorising CS and MD be passed in the shareholder relationship Committee meeting authorising transfer of shares to IEPF suspense account ( as required under recent ammendment and what is notice period to shareholders required during this first year of transfer.

Section 125- Investor Education and Protection Fund.

Posted By: Chandranil belvalkar 8 year(s) ago

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Shivam Singhal

Since Rule 6 (3) (c) of the IEPF Rules, 2016 explicitly states that for the purpose of effecting the transfer CS or any other person shall be authorized by the Board, therefore in the cited case committee cannot authorize. Further, period of 3 months shall be given to the shareholders to claim the dividend in respect of which dividend has not been claimed for seven or more years from the date of newspaper publication which is required to be given under IEPF Rules, 2016

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