What is due date for ascertaining the no. of shares to be transferred to IEPF account ?


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What is the Due date for ascertaining the no. of shares to be transfered to IEPF account?

When to calculate and begin the process of corporate action in order to transfer the shares for which the dividend have not been paid/claimed for a period of 7 years?

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  1. Please briefly explain why you feel this answer should be reported .


    Relevant Summary of Provisions in the Companies Act, 2013 is attached with this comment

    The critical dates for the purpose of transfer of shares are –
    1. Date of dividend declaration,
    2. Between 31st day and 37th day from the date of declaration (date of transfer to unclaimed dividend account)
    3. 30th day from the expiry of 7 years from the date it was transferred to unclaimed dividend account (date prior to which unclaimed dividend and the shares relating to that dividend need to be transferred to the IEPF account).

    Given the timelines, the last date on which the unclaimed dividend and the related shares need to be transferred is the 30th day following the 7th anniversary of the dividend being transferred to Unclaimed Dividend A/C.

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