8. Any other document relevant to prove entitlement of the claimant. If the investor does not claim it, then from 2017-18 onwards it will become eligible to transfer to IEPF. In case of non-availability of Aadhar Card for super senior citizens or some specific states, other ID Proofs issued by government clearly mentioning the address of the claimant needs to be submitted. The shares or dividends which are unclaimed for more than seven years are sent to IEPF. In case of Indian Citizen – to prove the identity of the claimant self-certified copy of Pan Card and Aadhar Card are required to be submitted. Upon submission, Form No. In order to submit a comment to this post, please write this code along with your comment: aae093a49014c4e789974502ff22c535. The procedure to file the application to get the refund of unclaimed or lost shares from the IEPF Authority could be complicated for investors with a little knowledge about IEPF regulations. Contact us to know IEPF Refund process & rules. 10,000 or less, indemnity bond can be executed on a plain paper. Any person whose shares, dividend which is unclaimed, matured deposits, debentures, refund of application money or interest on it, sale proceeds of fractional shares redemption proceeds of preference shares, etc. In a crux, We will help you to recover your The IEPF- Investor Education and Protection Fund (IEPF) Authority looks after the unclaimed dividends and seeks to protect the interests of the investors. On receipt of the original documents from claimant, the company shall be required to authenticate the same with the scanned copy attached with the claim form. In cases, authority requires additional documents from company only, it shall intimate the same for fresh e-verification report without any resubmission on part of the claimant. Printout of the IEPF-5 form filled duly with the signature of claimant. By making an application in Form IEPF-5 online on the website www.iepf.gov.in along with specified fees and 2. After filing the refund claim through the online form, the claimant should send the prescribed attachments to the Nodal Officer of the company taking care of IEPF related matters. Recoversy is a one stop destination for recovery. So, all the businesses must transfer all the dormant shares from their unclaimed dividend account to the IEPF if they’re older than seven years. Please bear in mind a share gets transferred to IEPF only if dividend remains unclaimed for seven years. 9. They can also apply for the refund under clause (a) of subsection (3) of section 125 or under provision to subsection (3) of section 125 to the concerned authority. This is done for the … Procedure for Claiming Unclaimed Dividend/Shares from Investor Education Protection Fund (IEPF) and Steps to be Followed by Company to Process the Claim 1. a. The experts at IEPFClaim with years of experience help you to get back your unclaimed and blocked investment money back. As per the act, all this money should be transferred to the IEPF. In case of foreigners, instead of Aadhar Card, copy of Passport or PIO Card duly apostatized as per Hague Convention. Any issues call to 9959895156.my whatsapp no 9959895156. i have 36 reliance share in physical form and already goes in to iepf, now market value of shares is around 65000-70000 for Indemnity bond which amount of stamp required ????? The voting rights on shares transferred to the Fund shall remain frozen until the rightful owner claims the shares. The attachments to be sent are mentioned below: The company should send verification report to the authority within 15 days from receipt of claim form in the format prescribed by the authority. The answer is IEPF, which is Investor Education Protection Fund Authority (IEPF) by the Ministry of Corporate Affairs, Government of India. G. FAQs on IEPF claim process (A) BRIEF NOTATION. The e-form shall be authenticated through DSC of the concerned nodal or deputy nodal officer. What exactly gets transferred to IEPF? IIFL Securities and Axis Securities to Acquire Karvy Accounts. This means that, all shares for which dividend has not been claimed or paid for seven years or more shall be transferred by the company on the name of Investor education and protection fund. 7. Procedure to claim Refund 1. IEPF (Investor Education And Protection Fund), How to claim shares & unclaimed dividends. What is the process if IEPF does not refund within 60 days of submission? Info. 2. The application duly verified and submitted by the company for refund of any claim to the authority, must be prepared by the authority within 60 days from the date of receipt of verification report submitted by the company. We provide a whole range of servcies to investors to recover their unclaimed dividends, bonuses, split shares etc. Here is How You Can Obtain Duplicate Share Certificates. Claimant to register themselves online on this weblink, http://www.mca.gov.in/mcafoportal/loadUserRegistration.do?link=loadUserRegistration, 2. Therefore, a legal expert's assistance is necessary to file the claim. If the authority does not receive the documents 90 days after the date of filing of form IEPF-5, it gives 30 days’ of time to the claimant to furnish the response and may reject the form if does not get it. Procedure for claiming back the shares from IEPF Suspense Account Shareholder can claim from IEPF Authority both unclaimed dividend amount and the shares transferred to IEPF Demat Account. We assist investors for hassle free refund of shares & dividend from IEPF. IEPF-5 under sub rule 1, shall send physical set of following documentation to the Nodal Officer of the Company for verification: 1. In case of refund of dividend amount of Rs. 6. In case of NRI – to prove the identity of the claimant, self-attested copy of Passport or self-attested copy of Overseas Indian Card (OIC) issued by MHA along with any of the documents available with him. Fresh e-verification report shall be filed for resubmission cases. At iepfadvice.com, you will get complete help for all your doubts and queries related to shares, transfer of shares, issue of duplicate shares, transposition of shares, name deletion, etc. It requires a particular degree of financial and legal experience to file the IEPF claim form to the fund manager. After completing verification process of the entitlement of the claimant, the authority and its Drawing and Disbursement officer will present the bill to be paid to the Accounts officer for the purpose of e-payment according to the guidelines, if the claimant has claimed the amount. Copyright © TaxGuru. Else, you may try filing an RTI to know the status of your claim. 8. If you are claiming for the refund, then original certificate of deposit or debenture. Recoversy team can take care of all the processes and documentation for IEPF claims, transfer/transmission of shares, all we need is your signatures. In this step the person has to apply to MCA through e-form IEPF-5 by furnishing below mentioned details: No document is required to be attached with the form. If the claimant has claimed the shares, the authority will issue sanction order for refund with the approval of concerned authority. In cases of transmission, loss of original shares, mismatch in name and address etc., relevant documents as mentioned in Schedule II, III and IV respectively. IEPF ADVICE is your one-stop solution to claim these unclaimed shares and does it for you uniquely and differently. If there are physical certificates, then the duplicate certificates are cancelled and shares are transferred on the name of claimant. The company shall be required to e-verify the claim as soon as it receives original documents from the claimant but not later than 30 days from the filing of claim failing which it shall be liable to pay an additional fee of Rs 50 per day up to a maximum of Rs 2500. Process to get refund shares from IEPF: Any person, whose shares, 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. Please fill all the required information carefully. It is done to demat account of the claimant to the level of his or her entitlement. Disclaimer: We are not associated with the IEPF Authority in any way. Recently IEPF authority recovered back Rs 1,514 Crores from Peerless finance which had done a fraud in past where lots of investors lost their hard earned money. IEPF – 5 CLAIM PROCESS FOR CLAIMANTS UNDER COMPANIES ACT 2013, 1. 5. Indemnity Bond and Advance receipt (original) auto generated after uploading the claim Form IEPF 5 with signature of claimant and witness and after affixing requisite stamp and advance receipt. Share Consultation is one of the leading supporters that help in retracing shares that are unclaimed for years. The company shall also be required to attach scanned copy of such authenticated documents with its e-verification report. Although the government has ensured unclaimed dividends, deposits, debentures, bonus, split shares etc to be in safe hands so that the investors can claim it even after a certain period, the number of the affected investors are no less. We’ll look after the process and fetch you … Share. This has happened pursuant to the Companies Act 2013 whereby the shares whose dividends are unclaimed for a consecutive period of 7 years are transferred to a government authority called IEPF . If the claimant is the legal heir or successor or nominee of the registered shareholder, then he or she to make sure that the company completes the transmission process before filing the claim with authority. To ease your worries, we’re proficient in getting your unclaimed or unpaid amount that has been transferred by the company to IEPF! Any person, whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, … 1. However, one may try by sending Email’s to the concerned officers. Print out of duly filled claim form with claimant signature and if joint holders are involved than the Form should be signed by all the joint holders along with annexures submitted with form. which has been sent to the IRPF, may raise a claim for the shares under the Sub-Section (6) Section … If the application is incomplete or is rejected, authority should communicate properly with the claimant as well as the related company regarding the deficiencies in the application. Original Cancelled Cheque leaf, Self-attested copy of Client Master List. 10. We can assist in case of transfer of shares and mutual funds, forgotten investments, demat of shares to unclaimed dividends, obtaining duplicate share certificates and much more. The company can reject such claims due to non-receipt of original documents from the claimant. We help investors search & claim back their lost, forgotten & unclaimed investments assisting them in IEPF claim. iepf Details of Shares transferred to Investor Education and Protection Fund Procedure … The huge no. If the amount is less than 10000, then the acknowledgement can be done on plain paper. Sending the physical copy of such application duly signed by all the … With IEPF, the unclaimed dividend and lost shares that have remained dormant for more than 7 years are taken care of on behalf of the rightful shareholders. The nodal officer of the company shall be intimated through email notification as soon as the web-form IEPF -5 is... 2. The claim procedure for refund of unclaimed dividends and lost shares may be a difficult process. After filing the refund claim through the online form, the claimant should send the prescribed attachments to the Nodal Officer of the company taking care of IEPF related matters. E. Practical aspects/procedure on the part of shareholder/claimant. After seven years, the dividends must be transferred to the IEPF account and it’ll dwell in that account until a claimant makes a legitimate claim request to IEPF with relevant documents. The Claimant can refer to the Instructions kit by downloading the same from weblink http://iepf.gov.in/IEPF/Forms/WebIEPF5_help.zipfor filing on the online IEPF – 5 form. The name and the email id of the officer is provided on the website. For Example, An Investor bought 100 shares in 1996 and first time company declared dividend in 2009-10. However, they need to follow due procedure and submit the documents required. If you are NRI or foreigner, Particulars of bank account in which the refund has to be done. Weblink http://www.mca.gov.in/mcafoportal/run/iepf5, 3. Copy of acknowledgement generated after uploading the claim Form IEPF 5. 3. Download the IEPF Form-5 from the IEPF website and fill in the details that have been asked and submit them online. Any person may claim their shares and unclaimed dividend by submitting online application in Form IEPF-5 alongwith the documents required to file to the authority of IEPF.After submission of online application, the applicant has to submit the application in physical form along with the original documents required to the Nodal officer at the registered office of the Company. A claimant can file only once claim in respect of a company in a financial year. Other possible reasons for the people not claiming shares … Now, the main question in front of common people is how to get these shares recovered in their name. The name and the email id of the officer is provided on the website. Original advance stamped receipt along with the signature of claimant and two witnesses. 10000. 9. Maintained by V2Technosys.com, Taxguru Consultancy & Online Publication LLP, 509, Swapna Siddhi, Akurli Road, Near Railway Station, Kandivali (East), Procedure for Claiming Unclaimed Dividend/Shares from IEPF, Investor Education Protection Fund (IEPF), Provisions for Deposits under Companies Act, 2013 & Rules, Company Law Ready Reckoner to Various Limits & Applicability, Sources of Loans for LLP, Private Company & Public Company- A brief Comparison, Oppression/Mismanagement under Companies Act of 2013 – Understanding through Case Laws, Procedure of accepting deposits from Members under Companies Act, 2013 in brief, Forex Gain in Personal Loan repayment are not taxable – ITAT, Refundable security deposit shown as a liability in books cannot be added to Income, Audited books cannot be rejected in a casual manner, ‘C’ Forms cannot be rejected for Mismatch without providing the Opportunity, DGFT introducing online e- EPCG Committee module, No addition against wife merely based on statement of husband, Consumer Protection (E-Commerce) (Amendment) Rules, 2021, FAQs on Direct Tax Vivad Se Vishwas Act, 2020, FAQs in respect of filling-up of ITR forms for AY 2021-22, Rates of Depreciation as Per Income Tax Act, 1961, Carry Forward and Set Off of Losses with FAQs, Income Tax audit under section 44AB: FAQs, Tax Benefits Available to Senior Citizens, Authority for Advance Ruling under Income Tax, Advance Tax Provisions, Challan, e-payment Utility & Examples, Income Tax Offences liable to prosecution. 4. Shopping. Original indemnity bond with the signature of claimant. PROCEDURE FOR CLAIMING REFUND. According to these rules any money as dividend not claimed by the investor within 7 years and 37 days from the declaration date of the dividend along with the interest accumulated, if any will be transferred by the company to Investor education and protection fund. Basically, IEPF Claim is the process for claiming back the unclaimed dividends, shares, and investments from IEPF. It shall be online monitorable process with fixed timelines for all stakeholders. As the name states, IEPF is a fund that collects all unclaimed shares. of shares and dividends transferred by HDFC bank to the IEPF might make some people look through their investment history to find if they have any unclaimed shares left of HDFC or not. 2. The new process shall not require any submission of physical documents to the Authority. Hiring a legal professional can assist you in saving lots of hassles related to this tedious task. Copyright © 2018-2021 Garg Law Chambers | All rights reserved | SitemapDisclaimer: We are not associated with the IEPF Authority in any way. Something which is unclaimed for a period of 7 yrs., goes into IEPF, example are .. Unclaimed shares lying in demat accounts from years Then, it will either credit the shares lying in IEPF suspense account with lying depository participant. The shares that are transferred to IEPF are valued at the current market price to the tune of `18,000 crore and the amount of unclaimed dividend is `2,300 crore. has been transferred to the Fund, may claim the shares under provision to sub-section (6) of section 124 or apply for refund under clause (a) of sub-section (3) of section 125 or under proviso … This is done for the verification of the claim. This should be done on the non-judicial stamp paper of the value mentioned under Stamp Act if the amount of the claim is more than or equal to Rs. In case of refund of matured deposit or debenture or bond or where shares (in physical form) are claimed, original certificate/shares thereto. Below is the step by step procedure of the same. If the shares have been transferred to Govt of India, then apart from dealing with company and fulfilling their formalities, investor / claimant would have to additionally comply with the procedure of IEPF claim or IEPF refund or IEPF refund.
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