Pursuant to the provisions of Section 124(6) of the Companies Act, 2013 and the Investor Education and Protection Fund Authority (Accounting, Auditing, Transfer and Refund) Rules, 2016 stipulates that shares on which dividend has not been encashed or claimed for seven consecutive years or more, then such shares are to be transferred to the Investor Education and Protection Fund (IEPF), a Fund constituted by the Government of India under Section 125 of the Companies Act, 2013. Accordingly, the Company sent individual communication to those shareholders whose shares are liable to be transferred to IEPF under the said Rules at their latest available address. Please click here
to download the details of such shareholders and shares due for transfer to IEPF. The shareholders are requested to verify the details of shares liable to be transferred to IEPF.
The Shareholders are requested to claim it by November 30, 2020 by submitting the duly filled and signed Letter of Undertaking with required KYC. Please click here
to download the Letter of Undertaking. After November 30, 2020, the shares will be transferred to IEPF Demat account without any further notice to the shareholders and no claim shall lie against the Company in respect of the equity share(s) so transferred
Where shares are held in physical form, the Company will issue duplicate share certificate(s) and transfer the said shares to IEPF. Upon issue of such duplicate share certificate(s), the original share certificate(s) will be deemed to be cancelled. Where shares are held in demat form, the Company will give appropriate instructions to the Depositories such that the Depositories are able to transfer the said shares to demat account of the IEPF Authority.
The Shareholders may also note that both the unclaimed dividend and the shares transferred to IEPF, including all benefits accruing on such shares, if any, can be claimed back from the IEPF Authority after following the procedure prescribed under the Rules.
The Shareholders may further note that this details should be regarded and shall be deemed adequate notice in respect of issue of duplicate share certificate(s) by the Company for the purpose of transfer of shares to IEPF pursuant to the Rules.