Form 5inv

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CS Om Daga (Querist)
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07 March 2014 One of my client have received a notice from Ministry of Corporate Affairs asking to upload the information of unclaimed and unpaid amount of investors lying with that company during any of the last 7 years requires under Investors Education Protection Fund(uploading of information regarding unpaid and unclaimed amounts lying with Companies)Rules,2012 dated 10.05.2012 which says that as per our Balance Sheet for F.Y. 2012-13 there is an unclaimed amount reported in the Balance Sheet which is nothing but shown as Share Application money pending for allotment as per our interpretation,because Company has neither paid the dividend nor accepted the public deposit.Moreover,Company is incorporated in the F.Y. 2012-2013 and is in existence for less than 7 years and Share application money has been received during F.Y. 2012-13 itself and pending for allotment on the date of AGM i.e. 30/09/2013. Notice also require if you wish to dispute the interpretation of non-filing of Form 5INV a ticket may be raised on MCA site under category defaulter related issues indicating the nature and reason of your contesting the interpretation.Please guide

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 filing of Form 5 INV is compulsory. you need to disclose the amounts pending for allotment. what guidance you need in this regard

CS Om Daga

CS Om Daga (Querist)
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07 March 2014 You will appreciate that The Investor Education Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, dated 10.05.2012 requires the company to upload the information of unclaimed and unpaid amounts of investors lying with that company during any of the last seven years.

In my case, Company is incorporated in the F.Y. 2012-2013 and is in existence for less than 7 years.Share application money has been received during F.Y. 2012-13 itself and pending for allotment on the date of AGM i.e. 30/09/2013. Still filing of Form INV5 is required?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 during last seven years will also include period less than 7 years. right! it applies to every company. Form 5 INV is only for providing information for amounts pending allotment/pending refund - therefore the same would apply to your case too.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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08 March 2014 Every year particulars has to be filed before MCA and IEPF. Amount unpaid and pending for seven years and more has to be transferred to IEPF which is not recoverable.
Ref:- Explanation and proviso to section 205C(2) of the Companies Act,1956.

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