CAIRR Update November 10, 2021

Home/ Update November 10, 2021

CAIRR Update November 10, 2021

November 10, 2021

Summary of the notification issued by MCA on 09/11/2021
MCA amends Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016
The key highlights of the amendment are as follows:

      1.       To ease the procedural compliance with respect to filing of supporting documents such as succession certificate/will/letter of administration or Decree etc. to effect transmission of securities held in physical / DEMAT mode, MCA has increased the threshold value of the securities per issuer company requiring such filings to Rs 5 Lakhs from Rs. 2 Lakhs.

      2.       In case of loss of securities held in physical mode, self-attested copy of FIR containing the prescribed information is sufficient proof (as against the earlier requirement to submit notarized document). Further, the copy of the newspaper advertisement shall be submitted only if the market value of the shares is greater than Rs. 5 Lakhs (current limit is Rs. 10,000).

      3.       Format of IEPF-5 (Application to the Authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund) is revised to give effect to these procedural changes and is annexed to the notification.

(Read More)

By | 2021-11-10T11:26:20+00:00 November 10th, 2021||0 Comments

About the Author:

Leave A Comment

Schedule a demoGo to CAIRRSubscribe to Newsletter