Retrieve your Lost and Unclaimed Investment Made in Shares

Investors have up to 7 years from the day when the shares were deemed lost to petition the government for lost and unclaimed shares. In the past, individuals would contact the relevant corporations one at a time to learn more, collect unclaimed dividends, or transfer shares to the iepf. However, the public can reclaim unclaimed and lost shares from their legitimate inheritance from numerous corporations through the IEPF, a government agency.

It also helps people claim unclaimed shares or dividends from the government, which was previously not possible. Therefore, this article answers your question about whether investors can recover lost or unclaimed shares from the IEPF.

Read also this -: Procedure for Claiming Shares Dividends from IEPF

Process to Retrieve your lost and unclaimed investment made in shares

Step 1:If someone wants to recover a lost or unclaimed share in their name, they must file an IEPF Form-5 to the MCA's official government portal.

Instructions for filling out the form:

  • Details about the claimant.
  • Company details (CIN number)
  • Information about claiming dividends and shares
  • Deposits and securities by fiscal year.
  • Indian citizen's Aadhaar card.
  • NRI or foreigner's passport number, OCI, or PIO card number.
  • Bank Account information.

    • Step 2: After completing the online form for a refund, the claimant should email it to the Company's nodal officer along with any necessary papers in a clearly labelled envelope.

    Documents needed for this submission include:

  • IEPF-5 copy with claimant's signature.
  • Copy of acknowledgment i.e. SRN numbers
  • Indemnification bond with claimant's signature
  • Non-judicial stamp paper bond (for claims that exceed the Rs. 10,000 claim limit).
  • Proof of eligibility (starting stock/interest numbers).
  • In the event that a matured deposit or debenture is refunded, certificates will be issued.
  • Account of Demat (claimant's signature).

    • Step 3: The corporation must send the form for lost and unclaimed shares to the relevant authority within 15 days of receiving the Claim form so that it can be verified with the relevant documents.

    Step 4: Following the final form completion, submission, and verification, the Pay and Accounts Officer must be paid in accordance with the rules. Following the issuance of a refund sanction order or for physical certificates shares, the claimant can claim shares from the IEPF account and have them delivered to them.

    Step 5: Within 60 days of receiving the verification report for lost and unclaimed shares from the appropriate firm, the corporation validates the claimant's reimbursement application and submits it to the appropriate authorities.

    Read also this -: Detailed Procedure for Recovery of Shares From IEPF

    Conclusion

    By reading our brief and condensed article, we hope you will understand how to get back your lost and unclaimed investment in shares. We have provided step-by-step instructions for recovering lost and unclaimed shares in the blog post above. If there is any misunderstanding, you can speak with our legal expert at legalraasta, who can simplify the process for you. With us, all you have to do is get in touch with us, give us the necessary information and supporting documentation, and pay. After that, you can relax because our staff will take care of the rest, and you'll also receive your application's timely status report. The complete process will last between one and two months.

    Location: India

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