December 31, 2021
Summary of the notification issued by MCA on 28/12/2021
Procedure for purchase of minority shares from the IEPF under IEPFA (Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016
The criteria and manner of transfer of shares by the IEPF to the Company upon the receipt of its application towards purchase of minority shares under Section 236 of the Companies Act, 2013 is prescribed in this notification. The details of the amount credited to the specified account of the IEPF Authority towards purchase of the minority shares shall be intimated to the Authority in Form No. IEPF-7 within thirty days from the date of remittance or within 30 days from the date of commencement of this notification, which is 28th December, 2021, as the case may be.