Ministry of Corporate Affairs, Government of India has notified the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 (“IEPF Rules”). According to the said IEPF Rules, Companies are required to transfer such shares for which dividend has not been claimed for 7 consecutive years, to the DEMAT account of IEPF Authority
NOTE 1:If you have not claimed dividends for the last 7 years and accordingly in terms of the provision of Companies Act, 2013 and IEPF Rules, the Company has transferred the shares, held by you under the Folio by cancelling the original share certificate registered in the names of the shareholders and issuing duplicate share certificate in lieu of the original share certificate held in the name in Single OR J/T and transmitting the same to the DEMAT account of IEPF Authority.
NOTE 2:Thereafter, the original share certificate would automatically stand cancelled and deemed non-negotiable or not tradable. Equity shares held under the Folio. Please note that no claim shall lie against the Company in respect of unclaimed dividend amount and shares transferred to IEPF pursuant to the IEPF Rules.
CLAIM PROCESS:In terms of Section 124 (6) of the Companies Act, 2013 and Rule 7 of the IEPF Rules, you can claim the said shares and also the unclaimed dividends from the IEPF Authority by making an application in e Form IEPF 5 online, available at www.iepf.gov.in after complying with their procedural requirements. Please refer to the annexure for the unclaimed dividends. (Annexure to be enclosed, giving unclaimed dividends for 7 consecutive years).
Submit all the above and self-attested copy of e-form along with the other documents as mentioned in the Form IEPF-5 including “ENTITLEMENT LETTER” to Nodal Officer (IEPF) of the company at its registered office in an envelope marked “Claim for refund from IEPF Authority”.
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