Query on section 205c of the companies act 1956 corporate law. Fund means the investor education and protection fund iepf established under subsection 1 of 205c of the act, 1956 1 of 1956. Pursuant to section 205c of the companies act, 1956 read with the investor education and protection fund awareness and protection of the investors rules, 2001, any money transferred by the company to the unpaid dividend account and remaining. Protection fund iepf as required in terms of section 205a read with section 205c of the companies act, 1956. Consequent upon amendment to section 205a of the companies act, 1956 and introduction of section 205c by the companies amendment act, 1999, the company has transferred all unclaimed divided.
Companies act 1956, 20 pdf bare act, bare act pdf, law. Explore the companies act 20 and companies act 1956. Companies compliance certificate rules, 2001 view download. Section 25 companies in the companies act, 1956 advisory. Section 9 act to override memorandum, articles, etc. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may notify in the. Pursuant to section 205a read with section 205c of the companies act, 1956, as amended, the dividend amounts which remain unpaid unclaimed for a period of 7 seven years, are required to be transferred to the investors education and protection fund of the central. Companies act 20 section 125 citation 62508 bare act. The advantages of section 25 companies over other companies registered under companies act are discussed below. The central government shall establish a fund, called as investor education and protection fund. The companies act 1956 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the companies act 1956 national security, others, procedural and administration, property related, public utilities, shipping laws, tax laws. Provisions of section 619 to apply to certain companies620. Provided that the person whose amounts referred to in clauses a to d of subsection 2 of section 205c transferred to investor education and protection fund, after the expiry of the period of seven years as per provisions of the companies act, 1956, shall be entitled to get refund out of the fund in respect of such claims in accordance.
X x x x extracts x x x x 1c the provisions contained in sections 205, 205a, 205c, 206, 206a and 207 shall, as far as may be, also apply to any interim dividend. The iepf is administered under the provisions of section 205c of companies act, investor education and. Section 125 investor education and protection fund aubsp. Consequent upon amendment to section 205a of the companies act, 1956 and introduction of section 205c by the companies amendment act, 1999, the amount of dividend for the subsequent years remaining unpaid or unclaimed for a period of seven years from the date of transfer to unpaid dividend account of the company shall be transferred. Section 205 dividend to be paid only out of profits. Companies branch audit exemption rules, 1961 view download.
Full text containing the act, companies act, 1956, with all the sections, schedules, short title, enactment date, and footnotes. Meeting of the company held on 24th august, 2012 and pursuant to the provisions of section 2931d of the companies act, 1956 and other applicable provisions, if any, including any statutory modifications or reenactments thereof, for the time being in force, of the companies act, 1956 and article 144 of the. The companies act, 1956 consolidates and amends the law relating to companies. The fund shall be utilized for promotion of investors awareness and protection of the interests of investors in accordance with such rules as may be prescribed. In terms of section 205a read with section 205c of the companies act, 1956, dividends for the years ended. Updated and amended bare acts in pdf format of companies act 1956 and companies act 20. Establishment of investor education and protection fund 206. Annual reports where one or more state governments are members of companies. Members who have not yet encashed the dividend warrants from the financial year ended december 31. Pursuant to section 205c of the companies act, 1956, your company has transferred a sum of rs. Companies disqualification of directors under section 2741g of the companies act. No claim shall lie against the iepf or the company in respect of the unclaimedunpaid amounts transferred to the iepf.
The curious case of section 4 7 of the companies act, 1956 this issue is of paramount importance for foreign companies having majority shareholding in indian companies since classification as a. Download section 205c of the companies act, 1956 file in. See gazette of india, extraordinary, 1956, part ii, section 3, p. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. Provisions of section 619 to apply to certain companies 620. Consequent upon amendment to section 205a of the 1956 act and introduction of section 205c by the companies amendment act, 1999, the amount of dividend for the subsequent years remaining unpaid or unclaimed for a period of seven years from the dates they. Understanding section 205 of the companies act, 20. Definitions of company, existing company, private company and public company 4. Ministry or department means ministry or department of the central government dealing the company affairs. Power to modify act in relation to government companies 620a. Section 205c of the companies act 1956 caclubindia. Where the whole or any part of any dividend, declared by a company before the commencement of the companies amendment act, 1974, 41 of 1974.
Investor education and protection under section 205c of. Section 263a sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. Section 25 companies under companies act 1956 legal. Application of section 295 to book debts in certain cases. The government has said that under the provisions of section 205c of the companies act, the following amounts are required to be credited to the investor education and protection fund by the companies. Companies declaration of beneficial interest in shares rules, 1975 view download. In this section and sections 387b, 387c, 397 and 401, unless the contrary intention appears financial statements means the financial statements of a company required to be prepared by the accounting standards and, in the case of a parent company, means the consolidated financial statements. Section 2172a of the companies act, 1956 read with the companies particulars of employees rules, 1975, as amended from time to time, is required to be given.
The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Meaning under section 25 of the companies act, 1956 under indian law, 3 legal forms exist for non profit organizations. The curious case of section 4 7 of the companies act, 1956. Companies act, 1956 by way companies amendment act, 1999 for promotion of investors awareness and protection of the interests of investors w. Companies act 1956 by study material lecturing notes pdf. Provided that the person whose amounts referred to in clauses a to d of subsection 2 of section 205c transferred to investor education and protection fund, after the expiry of the period of seven years as per provisions of the companies act, 1956 1 of 1956, shall be entitled to get refund out of the fund in respect of such claims in. Secretarial compliance report the company has maintained proper secretarial records as required by companies act, 1956. Full text containing the act, companies act, 1956, with all the sections, schedules, short. Pursuant to the provisions of section 205c of the companies act, 1956 and investor education and protection fund awareness and protection of investors rules, 2001, the company has transferred an amount of rs. Consequent upon amendment to section 205a of the companies act, 1956 1956 act, and introduction of section 205c by the companies amendment act, 1999, the amount of dividend for the subsequent years remaining unpaid or unclaimed for a period of seven years from the dates they became first due for.
Similarly, another type of company incorporated under the companies act, 1956 is section 25 companies. Section 205c establishment of investor education and protection fund. Companies act, 1963, section 205 irish statute book. Various companies have been incorporated under the companies act, 1956.
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