MCA Clarification on FORM 5 INV

[R V Seckar]

Dear Professional Colleagues,

 

I have consistently followed with the MCA for more clarification on the filing of FORM 5 INV . Due to my consistent follow , MCA has issued two further circulars on the subject to remove the ambiguity.

 

The latest circular on the subject is detailed below: From the circular , it is very clear that every company has to file form 5INV about their balances in

(a)    amounts in the unpaid dividend accounts of companies;

 

(b)    the application moneys received by companies for allotment of any securities and due for refund;

 

(c)    matured deposits with companies;

 

(d)    matured debentures with companies;

 

(e)    the interest accrued on the amounts referred to in clauses (a) to (d);

 

(f)    grants and donations given to the Fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund; and

 

(g)    the interest or other income received out of the investments made from the Fund:

 

Provided that no such amounts referred to in clauses (a) to (d) shall form part of the Fund unless such amounts have remained unclaimed and unpaid for a period of seven years from the date they became due for payment.

 

It is now clear that every company has to file form 5 INV mentioning the balances available in the above heads detailed from (a) to (h).

 

Further , due to my follow up , MCA has now given time extension for filing of excel sheet that can be uploaded upto 31st August, 2012.

 

I really wish to extend my thanks to MCA for giving such clarification and removal of doubts.

 

Details of the Recent Circular of MCA

 

Ministry had issued Investor Education and Protection Fund(Uploading of Information regarding unpaid an unclaimed amounts lying withcompanies) Rules, 2012 on 10th May, 2012 wherein it was made mandatory for every company to identifythe unclaimed and unpaid amount as referred to in section 205C(2)and file thesame in form 5 INV within 90 days of the AGM.

 

To remove the confusion, if any, in the minds ofstakeholders, Ministry has issued a Circular on 23rd July, 2012 and has provided clarifications as under:

 

The     details of unpaid and unclaimed amount shall be upto the date of AGM and     it shall be filed within 90 days of the AGM.

 
For     the Financial Year 2010-11, form 5 INV is required to be filed upto 31st     July, 2012 or within 90 days of AGM whichever is later.

 
In     case any company could not file correct excel template within 14 days of     filing form 5 INV, the excel template shall can be uploaded upto 31st     August, 2012.

 
Companies     are required to file 1 form 5 INV each year for furnishing information of     unpaid/unclaimed amount lying with companies as on the date of Annual     General Meeting
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R.V.Seckar

Mobile- 09848915177

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[Indrani Sanka]

Hi,

With regard to the below circular I have filed the form with the ROC while uploading the investor's information in the IEPF portal on selecting the CIN number of the company we are incurring a problem, as the companies name is not appearing. has any one incurred the same problem.



Please add the below mail id to the group

emar...@orchidpharma.com

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Thanks,

Indrani

[R V Seckar]

Hello,

 

For uploading the excel sheet in IEPF portal , MCA has given time extension up to 31st August 2012.

 

I think , the MCA will resolve the issue at the earliest .

 

Regards

 

R.V.S

[Indrani Sanka]

Thank You Sir.