Transfer of unclaimed amount and equity shares to the Investor Education and Protection Fund
Pursuant to the applicable provisions of the Companies Act, 2013 and the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“the Rules”) notified by the Ministry of Corporate Affairs effective from 7th September, 2016, all unpaid dividend accounts, matured deposits, matured debentures, interest accrued on matured deposits and debentures, application money received for allotment of securities and due for refund, which remain unpaid and unclaimed by the security holders for a period of seven years or more from the Company, as applicable, are required to be transferred by the Company to the Investor Education and Protection Fund (“IEPF”) established by the Central Government. The Rules, inter alia, contain provisions for transfer of all shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years or more in the name of IEPF Suspense Account.
Please note that you may claim from IEPF Authority the unclaimed dividend, amount of matured fixed deposits, matured debentures and interest accrued thereon and the Equity Shares transferred to IEPF Suspense Account by making an application in Form IEPF-5 online and sending the physical copy of the same duly signed (as per registered specimen signature) along with requisite documents enumerated in the said Form IEPF-5 to the Company or to Karvy Computershare Pvt. Ltd., Registrar and Transfer Agents of the Company for verification of your claim. We shall send a verification report to IEPF Authority for refund of the unclaimed dividends, amount of matured deposits, matured debentures and/or transfer of the Shares back to the credit of the shareholder/depositholder/debentureholder as the case may be. As per the above Rules, only one such request can be made in one year.
Accordingly, detailed information is provided for the benefit of investors.
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