Transfer of shares to the DEMAT Account of the IEPF Authority
Equity shares of the Company in respect of which dividends for 7 (seven) consecutive years have remained unpaid or unclaimed are liable to be transferred / credited to the DEMAT Account of the IEPF Authority in terms of Section 124(6) of the Companies Act, 2013 read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (Rules).
Accordingly, the shares liable to be transferred to the DEMAT Account of the IEPF Authority shall be transferred by following the procedure contained in the Rules which are as under:
(i) In case of shares held in physical form -- by issuance of duplicate share certificate and thereafter informing the depository by way of corporate action to convert the duplicate share certificates in DEMAT form and transfer in favour of the IEPF Authority. Accordingly, the original share certificate/s held by such shareholders shall automatically stand cancelled.
(ii) In case of shares held in demat mode -- by informing the depository by way of corporate action, where the shareholders have their accounts for transfer in favour of the Authority and thereafter on receipt of such intimation, the depository shall effect the transfer of shares in favour of the DEMAT Account of the Authority.
Shareholders may please note that both the unclaimed dividend transferred to the Investor Education and Protection Fund (IEPF) and shares transferred to the DEMAT Account of the IEPF Authority can be claimed back from the IEPF Authority after following the procedure prescribed in the Rules. No claim shall lie against the company in respect of unclaimed dividend amount transferred to the IEPF and the shares transferred to the DEMAT Account of the IEPF Authority pursuant to the Rules.
If you have any query or anything to communicate to the Company in respect of the above, you may promptly contact the Company’s Registrar and Share Transfer Agents, M/s. Link Intime India Pvt. Ltd. at C 101, 247 Park, L B S Marg, Vikhroli (West), Mumbai 400083, Telephone No: (022) 49186000, Fax: (022) 49186060, email: email@example.com.
Click here for Public Notice pursuant to Rule 6 of the Rules
Click here for details of shares to be transferred to the DEMAT Account of the IEPF Authority