MCA Clarification reg. likely simplification of process and extension of due date for transfer of shares to IEPF Authority
MCA has received various representations from Companies for Simplification of transfer process of shares under IEPF (Accounting, Audit, Transfer and Refund) Rules, 2016, notified on 5 Sept. 2016 including for extension of the due date prescribed for transferring the shares to IEPF Authority.
The MCA has clarified that simplification of transfer process of shares to IEPF Authority and extension of due date for such transfer, are under review. The rules are likely to be revised and shall be notified in due course.