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Can I claim old dividends relating to past years that I have not received?

mahindra-finance-author

by Mahindra Finance

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July 21, 2023

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2 mins read

Dividend lying in the Unpaid Dividend Account which remains unpaid or unclaimed for a period of seven years is required to be transferred to the Investor Education and Protection Fund (IEPF). To ensure maximum disbursement of unclaimed dividend, the Company sends reminders to the concerned investors, before transfer of dividend to IEPF.

The unpaid / unclaimed dividends upto Dividend 2011-12 has been transferred to the IEPF Account of the Central Government.

Any person whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc. has been transferred to the IEPF Fund, may claim the shares under provision to sub-section (6) of Section 124 or apply for refund, under Clause (a) of sub-section (3) of Section 125 or under proviso to sub-section (3) of Section 125, as the case may be, to the Authority by making an application in Form IEPF-5. Shareholder may claim from IEPF Authority both the unclaimed dividend amount and the Equity Shares transferred to IEPF Authority by submitting an online application in Form IEPF-5 available on the website www.iepf.gov.in. Upon submission, Form IEPF-5 shall be transmitted online to the Nodal Officer of the Company for verification of claim. You are requested to please send physical copy of Form IEPF-5 along with physical Share Certificate(s), Indemnity Bond, Advance Receipt and any requisite document(s) enumerated in the said Form IEPF-5 duly signed by you (as per registered specimen signature) to the Nodal Officer of the Company or to Karvy Fintech Pvt. Ltd., Registrar and Transfer Agents of the Company.

As per Section 124 of the Companies Act, 2013, all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the Company in the name of IEPF. Further, the shareholders whose amounts and shares would be transferred to IEPF as above, would be entitled to get refund of the dividend and claim the transfer of shares from IEPF after complying with the prescribed procedure under the Companies Act, 2013.

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