Sub – Section (6) of Section 124 mandates transfer of all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more in the name of Investor Education and Protection Fund along with a statement containing such details as prescribed. Rule 5 of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 prescribe the manner of such credit. We discussed procedure amended with effect from 20th August 2019 in the last post here. In this post, we will discuss the post-transfer effects and procedures.
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