In accordance with section 205C of Companies Act, 1956 now replaced with Section 125 of Companies Act, 2013, the specified categories of unclaimed and unpaid amounts including the unclaimed dividends are required to be credited to Investor Education and Protection Fund (IEPF).  The details of amounts credited to IEPF, Including unclaimed dividends, during 2013-14 to 31.10.2016 are as under:

(Rs. in Crore)

Year	Head of Accounts	Amount
2013-14	007500104 Unclaimed and unpaid dividend, deposits, & Debentures etc. of investors in companies	189.96
2014-15	--do--	261.56
2015-16	--do--	223.42
2016-17 (up to 31.10.2016)	--do--	181.90
	Total	856.84

 

The amount credited to IEPF forms a part of the Consolidated Fund of India, from which the Ministry receives separate budgetary allocation specifically for making refunds against eligible claims as well as for creating investors awareness as per the mandate of the Companies Act.  Claimants can approach the IEPF Authority for refund after the funds are transferred to IEPF.  As on 10th March, 2016, 263 claimants against 114 companies have made applications for refund.

This was stated by Shri Arjun Ram Meghwal, Minister of State for Corporate Affairs in written reply to a question in Lok Sabha today.

 

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