Any
amount transferred to Unpaid Dividend Account of the Company, which is unpaid
or unclaimed for more Seven Years shall be transferred along with interest
accrued, to Investor Education & Protection Fund. (IEPF) and the company
shall send a statement in Form IEPF-1 the details of such
transfer to the authority which administers the said Fund and that authority
shall issue a receipt to the company as evidence of such transfer.
Investor
can claim unpaid or unclaimed Dividend, matured deposits, matured debentures,
application money due for refund, or interest thereon, sale proceeds of
fractional shares, redemption proceeds of preference shares etc., from IEPF by
following this procedure
PROCEDURE FOR CLAIMING IEPF REFUND
1. Claimant
(Investor) has to fill form IEPF-5, available online on website, www.iepf.gov.in., Direct Link
PARTICULARS OF IEPF-5
a. Name
of Applicant along with address, phone number, mobile number and email id.
b. Particulars
of the Company/Bank from which the amount is due.
c. Details
of shares claimed.
d. Details
of amount Claimed.
e. Year
wise details of Securities/ Deposits for which the amount is claimed.
f. Aadhar
Number or Passport/OCI/PIO Card No.(In case of NRI/foreigners)
g. Details
of Bank Account.
2. Save
the form on your desktop and upload the same on MCA website and a challan or acknowledgment
receipt will be generated .
3. Investor
shall take the print out of the form and send it to the Nodal Officer (IEPF) of the Company Concerned at its registered
office in an envelope marked “claim for
refund from IEPF Authority) along with following documents:-
a. Copy
of acknowledgement/Challan,
b.
Indemnity
Bond(original) with claimant signature on non judicial stamp paper if the claim
is more than Rupees 10,000 and if the
claim is less than 10,000 Rupees the bond is on plain paper,
c.
Advance
Stamped receipt(original) with Claimant Signature ,a revenue receipt to be
pasted and claimant has to cross sign the receipt,
d. Proof
of Entitlement in original (Certificate of Shares/ Interest warrant Application
No.),
e. Copy
of self attested Aadhar Card and PAN card,
f. Cancelled
Cheque Leaf,
g. Copy
of Passport, OCI and PIO card in case of foreigners and NRI,
h. Self
attested Latest Client Master List of Demat Account,
4. The
company shall, within fifteen days from the date of receipt of claim, send a
verification report to the Authority in the format specified by the Authority
along with all the documents submitted by the claimant
5. After
verification of the entitlement of the claimant
a)
to the amount claimed, the Authority and
then Drawing and Disbursement Officer of the Authority shall present a bill to
the Pay and Accounts Office for e- payment as per the guidelines,
b)
to the shares claimed, the Authority shall
issue a refund sanction order with the approval of the Competent Authority and
shall credit the shares to the DEMAT account of the claimant to the extent of
the claimant’s entitlement.
6. In case where the application is incomplete or not approved, a communication will be sent to the Claimant and the Concerned Company by the Authority detailing deficiencies of the Application.
NOTE:-
* The claimant shall file
only one consolidated claim in respect of a company in a financial year.
*
An application received for refund of any claim duly verified by the concerned
company shall be disposed off by the Authority within sixty days
from the date of receipt of the verification report from the company, complete
in all respects and any delay beyond sixty days shall be recorded in writing
specifying the reasons for the delay and the same shall be communicated to the
claimant in writing or by electronic means.
*
In case, claimant is a legal heir or successor or administrator or nominee of
the registered share holder, he has to ensure that the transmission
process is completed by the company before filing any claim with the
Authority.
For Further Clarification, drop email at shailja.tiwari16@gmail.com.
For Further Clarification, drop email at shailja.tiwari16@gmail.com.
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