8.3.5-Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

5. Statement to be furnished to the Fund.-

Any amount required to be credited by the companies to the Fund as provided under clauses (a) to (n) of sub-section (2) of section 125 of the Act shall be remitted online along with a Statement in containing details of such transfer to the Authority within a period of thirty days of such amounts becoming due to be credited to the Fund.

(1) Any amount required to be credited by the companies to the Fund as provided under clause (a) to (n) of sub-section (2) of section 125 of the Act shall be remitted into the specified branches of Punjab National Bank, which is the accredited Bank of the pay and Accounts Office, Ministry of Corporate Affairs and Other authorised banks engaged by the MCA-21 system, within a period of thirty days Of such amounts becoming due to be credited to the Fund.

The amount shall be tendered by the Companies along with challan (in triplicate) to the specified Bank Branches of Punjab National Bank and other authorised banks under MCA- 21 system who will return two copies of the challan, duly stamped in token of having received the amount, to the Company. The third copy of the challan Will be forwarded along with the daily credit scroll by the receiving branch to its Focal Point Branch of the Bank for onward transmission to the pay and Accounts Office, Ministry of Corporate Affairs.

Every company shall file with the concerned Authority one copy of the referred to in sub-rule (2) indicating the deposit of the amount to the Fund and shall fill in the full particulars of the amount tendered including the head of account to which it has been credited.

 the company Shall, along with the copy of the challan as required under sub-rule (3), furnish a Statement in  containing details of such transfer to the Authority within thirty days of submission of challan.

 The companies which have transferred any amount referred to in clauses (a) to (d) of sub-section (2) of section 205C of the Companies Act, 1956 (1 of 1956) to Investor Education and Protection Fund or Central Government, but have not filed the statement or have filed the statement in any format other than in excel template, as required under sub-rule (1) of rule 5, shall submit details mentioned in sub-rule (1) of rule 5 in   along with excel template within sixty days of notification of these amended rule.

(5) The amount may also be remitted by Electronic Fund Transfer in such manner, as may be specified by the Central Government.

(6) (a) On receipt of the statement. the Authority shall enter the details of such receipt in a Register maintained physically or electronically by it in respect of each company every year, and reconcile the amount remitted and collected, with the concerned designated bank on monthly basis.

(b) Each designated bank shall furnish an abstract of such receipts during the month to the Authority within seven days after the close of every month.

 The company shall maintain the record filed under sub – rule (1) in the same format along with all supporting documents and the Authority shall have the powers to inspect such records.

(c) The Company shall maintain record consisting of name, last known address, amount, folio number or client ID, certificate beneficiary details etc. of the persons in respect of whom unpaid or unclaimed amount has remained unpaid or unclaimed for a period of seven years and has been transferred to the Fund and the Authority shall have the powers to inspect such records.

(7) The provisions of this rule shall be applicable mutatis mutandis in respect of the amounts to be credited to the Fund in pursuance of clauses (h) to (m) of sub-section (2) of section 125.

 Every company shall within a period of sixty days after the holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 96 of the Act, whichever is earlier and every year thereafter till completion of the seven years period, identify the unclaimed amounts, as referred in subsection (2) of section 125 of the Act, as on the date of closure of financial year the account of which are to be adopted in the Annual General Meeting as per sub-section (1) of section 137 of the Act, separately furnish and upload on its own website and also on website of Authority or any other website as may be specified by the Government, a statement or information of unclaimed and unpaid amounts separately for each of the previous seven financial years through  , containing following information, namely:-

(a) the names and last known addresses of the persons entitled to receive the sum;
(b) the nature of amount;
(c) the amount to which each person is entitled;
(d)the due date for transfer into the Investor Education and Protection Fund; and
(e) such other information as may be considered necessary

(8) Every company shall within a period of ninety days after the holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 96 of the Act and every year thereafter till completion of the seven years period, identify the unclaimed amounts, as referred in sub-section 2 of 125 of the Act, as on the date of holding of Annual General Meeting or the date on which it should have been held as per the provisions of section 96 of the Act, separately furnish and upload on its own website and also on website of Authority or any other website as may specified by the Government, a Statement or information through , separately for each year, containing following information, namely.-

(a) the names and last known addresses of the persons entitled to receive the sum;

(b) nature of amount;

(c) the amount to which each person is entitled;

(d) the due date for transfer into the Investor Education and Protection Fund; and

(e) Such other information as may be considered relevant for the purposes.