Lok Sabha Question No. 935 (UNSTARRED), answered on 2019-02-08
Subject: Investment in Rural Areas
Ministry: CORPORATE AFFAIRS
Asked by: ALOK SANJAR

## GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA

## UNSTARRED QUESTION NO. 935 ANSWERED ON FRIDAY, THE 8TH FEBRUARY, 2019 MAGHA 19, 1940 SAKA

## INVESTMENT IN RURAL AREAS

## QUESTION

†935. SHRI ALOK SANJAR:

Will the Minister of CORPORATE AFFAIRS

be pleased to state:

- (a) whether  the  Government  proposes  any  scheme  to  promote  investment  in rural areas, if so, the details thereof and if not, the reasons therefor;
- (b) whether the Government has taken any steps for creating awareness and protecting  small  investors,  if  so,  the  details  thereof  and  if  not,  the  reasons therefor;
- (c) whether several sections of the new Companies Act relating to protection of investors  have  not  been  notified  by  the  Government  so  far,  if  so,  the  details thereof and the reasons therefor;
- (d) the steps taken/being taken by the Government for expeditious and proper implementation of the said Act; and
- (e) whether several companies have not paid dues of small investors, if so, the details  thereof  and  the  reasons  therefor  along  with  the  measures  taken  by  the Government in this regard?

## ANSWER

THE MINISTER OF STATE FOR LAW AND JUSTICE AND CORPORATE AFFAIRS                           (SHRI P.P. CHOUDHARY)

(

विवि और न्याय एिं कारपोरेट कायय मंत्रालय में राज्य मंत्री

श्री पी . पी . चौधरी

)

(a)  &  (b):    There  are  several  steps  taken  to  promote    investment  in  rural  areas through the aegis of National Bank for Agriculture and Rural Development(NABARD)  inter-alia which includes Long Term Irrigation Fund(LTIF), Rural Infrastructure Development Fund(RIDF) Investments, Pradhan Mantri Awas Yojana-Gramin(PMAY-G),  Swachh  Bharat  Mission  -  Gramin(SBM-G),  Long  Term Rural  Credit  Fund,  Warehouse  Infrastructure  Fund,  Food  Processing  Fund,  Micro Irrigation  Fund,  Dairy  Processing  and  Infrastructure  Development  Fund,  Animal Husbandry  Infrastructure  Development  Fund  (AHIDF),  Fisheries  and  Aquaculture Infrastructure Development Fund (FAIDF), Agri-Marketing Infrastructure Development Fund (AMIDF) and Agriculture and Marketing Infrastructure Fund. In addition  to  above,  the  item  (x)  of  Schedule  VII  of  the  Company  Act,  2013 prescribes 'Rural Development Projects' for Corporate Social Responsibility(CSR) activities.

कारपोरेट कार्य मंत्री

Investor  Awareness  Programmes(IAPs)  are  organized  in  urban  and  semi-urban areas  in  partnership  with  Institute  of  Chartered  Accountants  of  India  (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of  India  (ICoAI).    In  rural  areas  these  programmes  are  conducted  through  the Common Service Centre (CSCs) set up by Ministry of Electronics and Information Technology. The year-wise details of the programmes organised are as under:

| Year                       | Total IAPs conducted by Professional Institute and CSCs   |
|----------------------------|-----------------------------------------------------------|
| 2013-14                    | 1,869                                                     |
| 2014-15                    | 1,659                                                     |
| 2015-16                    | 2,944                                                     |
| 2016-17                    | 2,171                                                     |
| 2017-18                    | 5,915                                                     |
| 2018-19 (up to 31.12.2018) | 15,505                                                    |
| Total                      | 30,063                                                    |

## (c) & (d):  All the Sections of Companies Act relating to protection of investors are notified.

(e):  As  per  Section  125(2)  of  the  Companies  Act,  2013  unpaid  and  unclaimed amounts that includes the amounts in the unpaid Dividend Account of companies, matured  deposits  with  companies  other  than  the  banking  companies,  matured debentures  with  companies,  etc.  lying  with  the  companies  for  7  or  more consecutive years shall be credited to IEPF. As per the investor's grievances data maintained,  action  has  been  initiated  against  89  companies  in  2015-16,  145 companies in 2016-17 and 89 companies in 2017-18. As per information received by Securities and Exchange Board of India (SEBI) during the last three years, they have initiated action against 81 companies under Section 15-I of SEBI Act, 1992 (the 'Act') and against 216 companies under Section 11B of SEBI Act, 1992.

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