KYC Update Requirement for Physical Shareholders

The company has dispatched letters to shareholders holding shares in physical mode requiring them to furnish PAN, KYC, and bank details for updation with the Registrar and Transfer Agent (RTA) Bigshare Services Private Limited. This compliance is mandated by SEBI Master Circular.

Key requirements include:

  • Mandatory submission of PAN, email address, mobile number, signature, and bank account details
  • Nomination facility is optional but recommended
  • Physical shareholders who haven't updated details cannot lodge grievances or avail service requests from RTA
  • Effective April 1, 2024, payments including dividend, interest, or redemption will only be made through electronic mode upon furnishing complete details

Required forms for submission:

  • Form ISR-1: For registering PAN, KYC details or changes/updation (with self-attested supporting documents)
  • Form ISR-2: Confirmation of signature by banker (with original cancelled cheque or bank passbook/statement)
  • Form SH-13: Nomination form
  • Form ISR-3: Declaration for nomination opt-out
  • Form SH-14: Change in nomination

Submission methods available:

  • Through post/courier to Bigshare Services Private Limited at Office No S6-2, 6th Floor Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400093
  • Through electronic mode by sending digitally signed documents to investor@bigshareonline.com
  • Through RTA web portal: https://www.bigshareonline.com/index.aspx
  • In Person Verification (IPV) at RTA office by registered shareholder only

SEBI has mandated that all security transfers shall be processed ONLY in dematerialized form, and physical shareholders are advised to convert to demat form.

IEPF Share Transfer Notice

Shareholders with unpaid/unclaimed dividends for seven consecutive years have been notified that their shares are liable to be transferred to the Investor Education and Protection Fund Authority under Section 124(6) of the Companies Act, 2013.

Critical timeline: Shareholders must claim unpaid dividends before September 15, 2026, to avoid share transfer to IEPF.

Transfer process:

  • Physical shares: Company will issue duplicate share certificates, rendering original certificates cancelled and non-negotiable
  • Demat shares: Company will give Delivery Instruction Slip to depository for transfer to IEPF

Claim process: Shareholders can claim both unclaimed dividend amounts and shares transferred to IEPF by:

  • Submitting online application in Form IEPF-5
  • Sending physical copy duly signed (as per registered specimen signature) with requisite documents to company's registered office or RTA for verification
  • Company will send verification report to IEPF Authority for refund and share transfer back to shareholder

After September 15, 2026, the company will transfer shares along with accrued benefits to IEPF without further notice, and no claims shall lie against the company thereafter.

Financial Impact

Not quantified in the disclosure. The impact relates to potential share transfer to IEPF and compliance costs associated with KYC updation process.