MCA vide General Circular No. 03/2017 on Thursday, 27th April, 2017 issued directions regarding transfer of shares to IEPF Authority, due date for which is May 31, 2017. For the said purpose, it has decided to open a special demat account with NSDL through a Depository Participant of NSDL, the details of which will be issued in due course.
All Companies which are required to transfer the shares to IEPF Authority shall transfer such shares, whether held in demat form or physical form, to the said demat account by way of corporate action.
Further NSDL will prescribe file formats by April 30, 2017 and operational procedures by May 15, 2017 for the purpose of said transfer. Also, NSDL has prescribed Transaction fees and Annual Maintenance fees in addition to fees levied for corporate action.
The said circular can be accessed at the following link:GenCir3_2017_27.04.2017_TrfrOfSharesToIEPFauthority