Regulatory Basis
The action is taken under Section 124(6) of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Auditing, Transfer and Refund) Rules, 2016. The transfer applies to shares where dividend has remained unclaimed for seven or more consecutive years, subject to no court order restraining transfer and provided shares are not pledged/hypothecated under the Depositories Act, 1996.
Financial Details
Unclaimed dividends for seven consecutive financial years total ₹3,118.5, with year-wise breakdown:
- FY 2018-19: ₹231
- FY 2019-20: ₹165
- FY 2020-21: ₹264
- FY 2021-22: ₹330
- FY 2022-23: ₹990
- FY 2023-24: ₹544.5
- FY 2024-25: ₹594
Action Required
Shareholders with unclaimed dividends must submit an application form along with prescribed KYC documents (ISR-1, ISR-2, SH-13 forms, PAN card copy, Aadhar card copy, and cancelled cheque leaf) to the Registrar and Share Transfer Agent, KFin Technologies Limited, by October 31, 2026.
Consequences of Non-Action
If claims are not received by October 31, 2026, the company will transfer the relevant shares to the IEPF without further notice. After transfer, no claim shall lie against the company, and any future claims must be made directly to the IEPF Authority by filing e-Form IEPF-5 as per prescribed procedures.
Additional Compliance Information
SEBI circular dated February 6, 2026, requires physical share folios to be KYC compliant for direct credit of dividends. KYC compliance requires registration of PAN linked with Aadhar, bank account details, email ID, mobile number, address with PIN code, nomination/opt-out declaration, and specimen signature.