Forged shares with reference to transfer of shares under the Companies Act, 2013

The IEPF's operations are governed by the Companies Act of 2013. The shareholders have 30 days to make a dividend claim after the company declares one on its stock. The corporation is required by law to transfer the dividends to an account designated as the "Unpaid Dividend Account" (also known as unclaimed dividend transfer to iepf) if the shareholders have not claimed them after 30 days. This blog provides a thorough explanation of the full procedure.

Read also this -: All You Need to Know for Recovery of Shares from IEPF

What do you mean by share recovery?

Because of this, some of the aforementioned securities never transitioned to digital form and are still in existence in the conventional format, i.e., physical paper, even after the introduction of the Demat system. These securities are easily vulnerable to theft, loss, or death of the security holder, and some money may even be transferred to a government organization for the benefit of the general public. Recovery of shares, then, refers to the process of recovering such securities through the transfer of shares or the recovery of bonus issues or unclaimed dividends. This unclaimed dividend transfer to iepf is known as a recovery of shares.

Under the 2013 Companies Act, shares may be transferred.

  • When The shareholders have 30 days to make a dividend claim after the company declares one on its stock. When a company declares a dividend on its stock, the unclaimed dividends transfer to the iepf, also known as the Unpaid Dividend Account, if they are not claimed by the shareholders within 30 days.
  • Once unclaimed dividends have gone unclaimed for seven years in a row, the corporation has 90 days to post a list of all shareholders for unclaimed dividends on its website and at the investor's registered address if they are not delivered.
  • To notify its members of any unclaimed dividends retained by the corporation during this time, the company or its RTA may use any method of communication, which is done via email.
  • A shareholder must make a request to the relevant authority if they want to retrieve their money from the "Unpaid Dividend Account." According to these guidelines, which are more transparent, the procedure of unclaimed dividends transfers to the IEPF and claiming dormant dividends has been made simpler. This ensures that payouts go to the right recipients and are free of fraud.

    • In only 4 steps, recover shares from the IEPF

  • Using the information, complete IEPF 5.
  • Get the SRN for tracking after uploading the form.
  • Make payment for unclaimed dividend transfer to iepf.
  • Send the completed form and supporting documentation to the company's IEPF Nodal Officer.
    • Read also this -: Can I Recover My Lost Share Certificate

    Conclusion

    We hope you comprehend the fundamental steps involved in the transfer of falsified shares under the 2013 Compact Act. Legalraasta consultant, who is the best in this sector and will provide investors adequate direction as protected under the companies act, can be contacted if you have any questions. We specialize in recovering shares and transferring them, as well as unclaimed dividend transfer to iepf. We will follow all procedures and finish all paperwork that has been legally approved by investors in order to make an IEPF claim.

    Location: India

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