keety muds

3 年

IEPF Unclaimed Shares

According to these regulations, any amount transferred to the firm's Unpaid Dividend Account pursuant to Section 124(1) of the Companies Act, 2013, that is unpaid or iepf unclaimed shares for more than 7 years after the date of declaration dividend shall be transferred to the Investor Education and Protection Fund, along with any interest accrued, if any (IEPF). The company must submit a statement to the IEPF Authority in the prescribed format detailing the details of the transfer, and the authority will issue a receipt as proof of the transfer.
In the case of shares where the dividend has not been paid or claimed for more than 7 years, the company must transfer the shares to the IEPF and attach a statement detailing the transfer.

Procedure for IEPF Claim/ iepf unclaimed shares Claiming
Any shareholder whose shares, unclaimed dividends, matured deposits or debentures, file money to be refunded and interest managed to accumulate on the same, if any, sale proceeds of fractional shares, etc. have been transmitted to the IEPF can claim the shares under the procedure outlined in subsection (6) of section 124 or can apply under clause (a) of subparagraph (3) of section 125 to the appropriate officials.
Important note on how to claim shares from IEPF
In a financial year, a claimant can only file one consolidated claim for a company against one Aadhaar Number. The consolidated claim must include details from multiple Folios from the same company.

To know more about:- https://muds.co.in/recovery-shares-iepf/

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3 年

NBFC Registration Process Requirements

What are the advantages of the registration of NBFC?

• It saves both time and money: Founding an NBFC is an easier procedure than forming a small bank.
• Loan repayment is straightforward: NBFCs operate in a methodical manner, offering tailored loan options with reasonable repayments.
• Payment and Settlements System Guidelines: The same covers all concerns, such as applying for authorization to start a payment system, receiving such authorization, payment instructions, payment standards to be maintained in the payment system, timely submission of the needed paperwork and financial information, and so on.
• Growth of the Economy: Businesses and people alike want an accessible and trusted source of credit to meet their financial demands.

Documents Required for NBFC Registration Process

To complete the NBFC registration process, one needs to submit the following documents for registration of NBFC:

1. Certified copy of COI (Certificate of Incorporation) / MOA / AOA;
2. Net Worth of Directors' and Shareholders' Certificates; Net Worth of the Company;
3. Certificates of Extensive Experience; Credit Reports for Directors and Shareholders; KYC information, the company's PAN, GST number, and address proof;
4. Details of the company's bank account [at least Rs. 2 Cr must have been deposited as NOF]; Income Tax Returns; Related Party Disclosures
5. Balance sheet audited over the previous three years or since incorporation;
6. A banker's report indicates that the fixed deposit is not encumbered by a lien.
7. The resolution format of the board for NBFC registration.
8. Underwriting model - Comprehensive 5-year action plan that includes a Fair Practice Code and a risk assessment strategy.
9. Both the structure of a business and the form of a loan are critical.
10. Technology of Information
For registration of NBFC you can visit our website to check necessary details.

Read More:- https://muds.co.in/nbfc-registration-process/