The Ministry of Corporate Affairs issued Notification No. G.S.R. 352(E) dated May 10, 2012, notifying “Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with Companies) Rules, 2012.” As per the Rules, the Companies are required to identify and upload details of the unclaimed amounts, if any, as per Section 205C (2) of the Companies Act, 1956 (‘the Act’) on their website. Accordingly, the details of the unclaimed amounts are provided below.
In the Initial Public Offering (IPO) by eClerx in 2007, equity shares were allotted per the allotment criteria. The excess application money/ application money for non-allotment cases was refunded by issuing refund orders. The unclaimedamount in this account was transferred to Investor Education Protection Fund (IEPF) on/after December 18, 2014, as it hadremained unclaimed for a period of seven years. Please note that hereafter no claim shall lie in respect of the same with eClerx.
The Dividend declared and distributed by eClerx to its shareholders which remain unclaimed gets accumulated with eClerx. Section 124 of the Companies Act, 2013 requires eClerx to transfer dividend that has not been claimed for a period of seven years from the unpaid dividend account to the Investor Education and Protection Fund (IEPF). Shareholders who have not claimed their dividend are advised to do so as the once unclaimed dividend is transferred to IEPF, no claim shall be made thereof with eClerx. Accordingly, detailed information is provided for the benefit of our Shareholders:
During FY2015-16, eClerx issued bonus shares in the ratio of 1:3 i.e. one (1) fully paid up Bonus equity share of Rs. 10/-each for every three (3) equity shares of Rs. 10/-each held in eClerx. The Fractional shares of all eligible shareholders i.e. 4,384 shares arising out of bonus allotment were consolidated and sold off in the open market. eClerx distributed net proceeds from the sale of such fractional shares in proportion to the entitlements among shareholders. Below, please find the status of unclaimed balance appearing in the Bonus Fractional disbursement account.