The dividend declared and distributed by the company to its shareholder which remains unclaimed gets accumulated with the company. Pursuant to the Section 124 of the Companies Act, 2013, read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (‘the Rules’), as amended, all unclaimed/un-enchased dividends are required to be transferred by the Company to the Investor Education and Protection Fund (IEPF) established by the Central Government, after the completion of seven years. Further, according to the Rules, the shares in respect of which dividend has not been claimed or en-cashed by the shareholders for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority in accordance with the Rules.
Recently, MCA has issued a Circular, notified in the Gazette of India G.S.R. 352(E) dated May 10, 2012,notifying the Rule “Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with Companies) Rules,2012”. As per this Rule, companies have to identify and upload details of unclaimed dividend on their website.
Accordingly detailed information is provided for the benefit of our Investors
The Dividend declared and distributed by the Company to its shareholders which remains unclaimed gets accumulated with the Company. The Ministry of Corporate Affairs (MCA) proactively addressed the issue by introducing Section 205C of the Companies Act, 1956, through Companies (Amendment) Act, 1999, thereby making it compulsory to deposit unclaimed dividend lying with the Companies for a period of seven years to the Investor Education and Protection Fund (IEPF), administered by the Central Government.
Recently, MCA has issued a Circular, notified in the Gazette of India G.S.R. 352(E) dated May 10, 2012, notifying the Rule “Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with Companies) Rules, 2012”. As per this Rule, companies have to identify and upload details of unclaimed dividend on their website.
Accordingly detailed information is provided for the benefit of our Investors.
Repro follows the good corporate governance practices. It has a code of conduct for its Board of Directors & Senior Management. Audit, Compensation, Investors' Grievances & Interaction and Corporate Governance committees have also been constituted to supervise the company's functioning.