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    Claim of refund of shares already transferred to Fund

    Posted By : Juhee Goyal / Published on : 24-Mar-2023 04:37 AM / View : 141 / Comment : 1

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    Hi Professionals!

    Can a person whose shares, unclaimed dividend, etc. has been transferred to the Fund, claim the shares or apply for refund ?
    Read more on : transferred fund already shares refund claim

    • Yes, a person whose shares or unclaimed dividends have been transferred to the Investor Education and Protection Fund (IEPF) can claim the shares or apply for a refund under certain circumstances.

      The Companies Act, 2013 mandates that companies transfer shares and unclaimed dividends to the IEPF if they remain unclaimed for seven years. However, the shareholder or investor can claim their shares or apply for a refund by filing an application with the IEPF authority. The IEPF authority will verify the claim and release the shares or refund the amount, if the claim is found to be valid.

      To claim the shares or apply for a refund, the shareholder or investor must follow the process and timelines prescribed by the IEPF authority. The process may involve submitting various documents and forms, such as the IEPF-5 form, identity proof, address proof, and other relevant documents.

      It is important to note that the right to claim shares or apply for a refund is available only to the rightful owner of the shares or unclaimed dividend, and not to any other person. Therefore, the claimant must provide sufficient proof of ownership and comply with the prescribed process and timelines to ensure a smooth and successful claim process.

      31-03-2023 / 10:42:50 AM
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