Shareholder -- Transfer of Shares to IEPF
Pursuant to provisions of Section 124(6) of the Companies Act, 2013 (Act) read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules) which requires the Company to transfer the shares for which dividend has not been claimed for 7 (seven) consecutive years to the Investor Education and Protection Fund (IEPF), a Fund constituted by the Government of India under Section 125 of the Companies Act, 2013
The Company has been sending reminder letters to the shareholders with a request to claim their outstanding dividend amount. Details of such unclaimed dividend are also uploaded annually on the website of the Company at
http://iimlindia.com/unclaimed_dividend.aspx
Please note, in case, the outstanding dividend amounts are not claimed, the underlying shares held in the accounts of the Shareholder(s) (either in Electronic / Physical mode) will to be transferred to DEMAT Account of IEPF without further notice to the Shareholders
In order to comply with the requirements following procedure stipulated in the Rules will be implemented :
- In case the Shareholder holds shares in physical form: Duplicate share certificate(s) will be issued and transferred to the IEPF Demat Account. The original share certificate(s) which stand registered in the name of the Shareholder and is/are held by the Shareholder will stand automatically cancelled and be deemed non-negotiable
- In case the Shareholder holds shares in electronic form: Necessary corporate action shall be initiated by the Company for transfer of shares to DEMAT Account of IEPF as per the rules
Please note that no claim shall lie against the Company in respect of unclaimed dividend amount and shares transferred to the IEPF Authority pursuant to the said Rules. Further any corporate benefit, including dividend, arising out of such shares shall be credited in favour of the IEPF
Upon transfer of shares to the IEPF, Shareholders can only claim the shares from the IEPF by following the below mentioned procedure :
- Make an online application in Form IEPF-5 available on the website http://www.iepf.gov.in/IEPFA/refund.html along with the fee as may be prescribed by the Central Government from time to time;
- Send a copy of the online application duly signed by him/her alongwith all documents mentioned in Form IEPF-5 for verification of his/her claim to the Nodal Officer at : IL&FS Investment Managers Limited, The IL&FS Financial Centre, Plot No C-22, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400 051;
- The Company shall, upon the receipt of the claim form, file an online verification report to the IEPF Authority;
- On verification, the IEPF Authority shall release the shares/dividend directly to the claimant
In case of any further information/clarification, please contact at :
or
The Company's Registrar and Share Transfer Agents :
M/s Link Intime India Private Limited,
Unit – IL&FS Investment Managers Limited,
C-101, 247 Park, L B S Marg, Vikhroli (West),
Mumbai 400 083
Tel. No.:
+91-22-49186270 Fax No.: +91-22-49186060
E-Mail:
iepf.shares@linkintime.co.in