Unclaimed Dividend/IEPF »

Transfer of equity shares of the company to Investor Education and Protection Fund (IEPF) demat account

 

Pursuant to provisions of Section 124(6) of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“the Rules”) notified by the Ministry of Corporate Affairs and subsequently amended vide notification dated 28th February, 2017, the Company is required to transfer all equity shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years to the Investor Education and Protection Fund (IEPF) set up by the Central Government. 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 31st May, 2017 by submitting the duly filled and signed Letter of Undertaking with required KYC. Please click here to download the Letter of Undertaking. After 31st May, 2017, 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.

 

 

Unclaimed Dividend/ Share Application Money/ Sales proceeds of fractional shares
 

The dividend declared at Annual General Meeting (Final Dividend)/ Board Meeting (Interim) is required to be paid within 30 days from the date of declaration. The company shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid or unclaimed to a special account to be opened by the company in that behalf in any scheduled bank to be called the Unpaid Dividend Account. Any amount lying in this account is called “Unclaimed Dividend”.

The dividend/ share application money due for refund/ sales proceeds of fractional shares within seven years from the date of transfer to the unclaimed account will, in terms of section 124 and 125 of the Companies Act, 2013 and rules made thereunder, be transferred to the Investor Education and Protection Fund (IEPF), established by the central government.

Please click here to check your unclaimed/ unpaid dividend/ share application money due for refund/ sales proceeds of fractional shares as on 16th September, 2016.

The shareholders who have not received/ encashed their unclaimed amount are requested to send the duly filled and signed letter of undertaking with required attachment to the Company Secretary of the Company or M/s. Sharex Dynamic (India) Private Limited.