Corporate Updates – 12-05-2017

IEPF – NSDL:

NSDL has issued circular w.r.t File Formats for Transfer of Shares to the demat account of Investor Education and Protection Fund (IEPF) Authority. As per the applicable Rules, all companies are required to transfer such shares to IEPF, whether held in dematerialised form or physical form, to the demat account of IEPF Authority by way of corporate action. For this purpose, the IEPF Authority has engaged services of NSDL. All Issuers/R&T Agents are hereby informed that a DPM-SHR System version release has been scheduled to facilitate Issuers/R&T Agents to transfer shares to demat account of IEPF Authority in NSDL system. There are three different file formats to transfer shares to demat account of IEPF Authority held with NSDL. File Format A shall be used where shares are being transferred from Investors’ holding demat account in NSDL Depository System. File Format B shall be used where shares are being transferred from Investors’ holding demat account in CDSL Depository System. File Format C shall be used where shares being transferred are held in physical form. The detailed operational guidelines to transfer shares to the demat account of IEPF Authority using the aforementioned file formats will be issued shortly. NSDL will provide utility to Issuers/R&T Agents to facilitate preparation of the file in the prescribed format.

RBI

RBI has introduced additional settlements in the NEFT system at half-hour intervals to enhance the efficiency of the system and add to customer convenience. Earlier, National Electronic Funds Transfer (NEFT) system settles the fund transfer requests of the participating banks on net basis at hourly intervals from 8:00 am to 7:00 pm on all working days. But, the half hourly settlements would speed up the funds transfer process and provide faster credit to the destination accounts. All the banks are advised to ensure their readiness in terms of technical and operational aspects, as the additional batches will be introduced from July 10, 2017.

News from NIRC of ICSI

NIRC is organising a Workshop on "BOARD REPORT & CSR" on Saturday, the 13th May, 2017 (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi. Fee : Rs. 500/- for all participants including Corporate Members of NIRC; Online Payment/Registration Facility Available; Program Credit Hours: 04.

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