Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
in Form 5 INV
A brief analysis of the provisions of Investor Education and Protection Fund and the rules made there under. As the
companies are receiving notices from ROC for non-filing of Form I!" the follo#ing are the compliances re$uired for
avoiding the non-compliance.
%he Investors Education & Protection Fund 'IEPF( rules ma)e it mandatory to file Form I!" in the follo#ing cases*
'a( Amount of +nclaimed and unpaid dividend
'b( Amount of application moneys received and due for refund
'c( Amount of matured deposits
'd( Amount of matured debentures
'e( Interest accrued on the amounts referred to in clause 'a( to 'd( above
Rule , of IEPF '+ploading of Information regarding unpaid and unclaimed amount lying #ith companies( Rules- ./0.-
defines this. Every company shall- #ithin a period of 1/ days after holding its A23 or the date on #hich it should
have been held and every year thereafter till completion of 4 years- identify the unclaimed amounts- separately
furnish and upload on its #ebsite and also on 3inistry5s #ebsite the details of the said amount. %hese details shall be
furnished by #ay of filing of Form I!" separately for each year containing the follo#ing information*
!ames and last )no#n addresses of the persons entitled to receive the sum6
!ature of the amount6
Amount to #hich each person is entitled6
Analysis:
7ue for Payment #as not define under the Companies Act- 018 but no# it has been e9pressly defined
under the Companies Act- ./0, and as per the provisions of the ne# act- the share application money shall be
refunded #ithin 0 days from the e9piry of 8/ days from the date of receipt of application money.
Amount to IEPF shall be transferred only after the e9piry of 4 years from the date it becomes it.
If such money has already been refunded then the form is not re$uired to be filed #ith the Registrar of
Companies.
In the cases #here such money is refunded or allotted before the commencement of the Act then Form I!"
has to be filed #ith the Registrar of Companies and Return of allotment in the case of allotment of shares.
Conersion o! share application money pending allotment be!ore "#$%"$&%#':
%he amount also cannot be converted to loan as the Companies Act- ./0, does not permit the conversion or
ad:ustment of such money and Company has to mandatorily refund that application money #ithin 0 days of the
date of completion of si9ty days.
No() *ill+ma,ing is -.st a Clic, A(ay
;abarinath 3uralidharan
3umbai* !;7< e-2overnance-=armond %rustees :oint venture to ma)e succession planning
simpler through its portal E>ee=ill
!;7< e-2overnance Infrastructure has entered into a strategic :oint venture #ith 3umbai-based
=armond %rustees and E9ecutors to offer #ill-ma)ing services to the masses as the economic
turnaround and rising disposable incomes have encouraged more people from different strata of
the society to ta)e their succession planning seriously.
%he :oint venture is offering an online platform for the preparation of ?#ill5 through a #eb-based
portal named E>ee=ill- #hich they claim- #ill ma)e the process simpler and affordable.
!;7<- #hich maintains pension accounts of over 4/ la)h Indian citi>ens apart from depositories
li)e ta9 information net#or)- is managing the online infrastructure to submit relevant data #hile
=armond has engaged a panel of la#yers to study the data and prepare the #ills for all
communities across India.
@=ith E>ee=ill- #e have cross-pollinated the technology and e-gov ernance capability of !;7<
#ith the legal e9pertise of =armond to create a best-in-class proposition. It is our endeavour to
play a pivotal part in building a#areness and ma)ing available a uni$ue proposition at a pricing
that #ill be friendly for all-A said 2o)ul 7as- 37- =armond %rustees and E9ecutors.
!;7< and =armond did not disclose the nature and terms of the :oint venture. %he cost of
ma)ing a #ill through the ne# online channel #ill be .
BC-///- #hereas a traditional form of #ill-ma)ing through la#yers #ill cost any#here bet#een .
B.-/// and B0-//-///.
@%his initiative ma)es available a proposition at one-fifth the cost even at a lo#er-end-A 7as
added.
=hile in the =est there are customised and automated soft#ares that enable one to ma)e a #ill-
in India the best mi9 #ould be one of technology and legal e9pertise as various permutations
need to be evaluated- la#yers said.
@In the 3uslim community- #riting a #ill is different among various sects- treatment of inherited
property vs self-ac$uired property is different- local la# needs to be evaluated for states li)e
2oa-A one of the la#yers $uoted above said.
!;7< has also found that property disputes are one of the ma:or reasons for family conflicts and
that these conflicts sometimes arise due to non-clarity on the #ishes of the departed.
Dence- !;7< has teamed up #ith =armond to provide e-governance solutions to ma)e life
easier for the citi>ens. @A #ise decision ta)en today is perceived as #isdom by the ne9t
generation. ;o- if you #ish to pass on the #isdom- even after you- do it through your decision to
#rite a #ill today-@ said 2agan Rai- CEO & 37- !;7< e-2overnance.
%he emergence of an online #ill-ma)ing platform attempts to brea) the l-#riting is the pre myth
that #ill-#riting is the prerogative of the rich and elderly and it is an e9pensive and complicated
proposition.
@At present- #riting a #ill is still not ta)en very seriously by most people. Dence- there5s a need
not only for a ne# organisational platform that #ill not only ma)e #ill preparation easy but also
create further a#areness on the importance of #riting a #ill and its registration-A said Eavil
Ramachandran-%homas ;chmidheiny Chair Professor of Family Fusiness and =ealth
3anagement at Indian ;chool of Fusiness.
India #itnessed an e9ponential rise in the number of rich people follo#ing the economic boom
that started in early ./// and continued for more than seven years. %he recent economic revival
after the slo#do#n for more than five years is li)ely to boost disposable incomes- leading to a
gro#ing demand for succession planning.
@%he emergence of a larger pool of rich individuals and families in recent years has created a
bigger pool of people #ho #ill benefit from simpler and cost-effective mechanisms to prepare
their #ill. Also- fundamental changes in the family structure and relationships are many in the
ma)ing that call for less publicised platforms to prepare one5s #ill-A Ramachandran added.
Alibaba IPO (orld/s biggest a!ter additional
shares sold
Elzio Barreto Hong Kong Last Updated: September 22, 2014 | 12:29 S!
0Photo: Re.ters1
RELATED