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 Demat Account.
Please note that you 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 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 KFin Technologies Private Limited, 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.
Accordingly, detailed information is provided for the benefit of Investors.