In our last editorial, we have discussed about the Steps to claim shares/ dividend back from IEPF. We have received so many queries from public that ‘how to claim shares in the case original share certificate are lost’. In this editorial we will discuss step by step process of the same. However, we will also publish video on the same with all step by step process.
Note: Practically it is not easy to file IEPF-5 by an individual. Its required good technology and documents knowledge by a person to file this form.
In this editorial, author shall discussion the situation when, shares are belonging to the person who is making application to Government but lost physical copy of share certificates. Process & documentation for other cases like: death of original shareholder, joint shareholder shall be discuss in next series of editorial. Practically there are difference in list of documents in these cases
Most Important:
If any person wants to claim their shares from IEPF, then such person must having following two things:
A. Demat Account
B. Bank Account
Following Provisions needs to follow:
In case of loss of original certificate, following laws required to follow:
- Certificate or proof of entitlement,
- the company and the claimant shall follow the procedure as laid down in the Companies (Share Capital and Debenture) Rules, 2014,
- Schedule III of these rules and attach certified copies of all documents as may be required under the said rules or guidelines with the e-verification report;
- the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, guidelines, procedures and circulars issued from time to time and (let you know in separate article)
A. Procedure as per Share Capital and Debenture Rules, 2014: –
(a) The duplicate share certificate shall be not issued in lieu of those that are lost or destroyed, without the prior consent of the Board and without payment of such fees as the Board thinks fit, not exceeding rupees fifty per certificate and on such reasonable terms, such as furnishing supporting evidence and indemnity and the payment of out-of-pocket expenses incurred by the company in investigating the evidence produced:
(b) Where a certificate is issued in any of the circumstances specified in this sub-rule, it shall be stated prominently on the face of it and be recorded in the Register maintained for the purpose, that it is “duplicate issued in lieu of share certificate No……”. and the word “duplicate” shall be stamped or printed prominently on the face of the share certificate:
(c) In case unlisted companies, the duplicate share certificates shall be issued within a period of three months and in case of listed companies such certificate shall be issued within forty-five days, from the date of submission of complete documents with the company respectively.
B. Schedule III of IEPF Rules: – Documents to be submitted to the Authority in case of loss of securities held in physical mode.
1. Self attested copy of FIR/ Police Compliant containing information of security holder, holding details, folio number and distinctive numbers of share certificate.
2.Surety Affidavit of along with his Proof of identity like Pan Card of sureties duly attested by Notary.
3. Indemnity bond by security holder on a non-judicial stamp paper of requisite value duly attested by Notary Public by the person, in whose name the original share certificate are being issued that he has not sold / disposed off the involved shares or acted in any manner by which any interest of third party would have been created.
4. Copy of advertisement in at least one English language national daily newspaper having nationwide circulation and in one regional language daily newspaper published in the place of registered office issued of company, if the market value of the shares is greater than Rs 5,00,000.
Note: In this editorial author has discussed about list of documents at Step II and IV. In the case of loss of shares, Claimant required to submit above mentioned documents along with documents mentioned at point II and IV.
STEP I: COLLECTION OF INFORMATION FOR FILING OF E-FORM: –
i. Details of the Claimant
- Name
- Father Name
- Date of Birth
ii. Mobile No & Email Id
Make sure you are using such Mobile No and email ID. Because you will get OTP on mobile and email id for verification of the same.
These OTP are required to mentioned in e-form IEPF5 and click on verify OTP.
iii. Aadhar and PAN No.
Keep copy of Aadhar and PAN with you for mentioning such information in the form.
iv. CIN of the Company
Ques: How to find the CIN of Company?
v. Details of share to be claim:
- Folio No/ Demat No
- Type of Shares
- Number of Shares
vi. Details of Dividend to be claim:
- Number of Claims
- Folio No/ Demat No.
- Amount of Claim
- Financial year to which claim relates
- Reason for non receipt
vii. Details of Bank Account in which you want to claim refund.
viii. Details of Demat Account in which share shall be credited.
Note: A person should keep above mentioned information ready with him. If he wants to claim shares/ dividend from IEPF.
STEP II: ARRANMENT OF DOCUMENTS FOR FILING OF FORM: –
Before filing of form with MCA. A person should keep following documents hard copy as well as scan copy ready with himself.
i. KYC Documents:
- Self-attested copy of PAN
- Self-Attested copy of Aadhar Card
ii. Original Share Certificates
iii. Original Cancelled Cheque
iv. In case share was in Demat. Then copy of Demat account showing the debit of shares to IEPF. Such statement should be signed by applicant and depository participant
v. Indemnity Bond: Prepare one Indemnity Bond
- In case claim of shares and dividend both, non-judicial stamp paper of appropriate value as prescribed under Stamp Act according to statement
- In case of only dividend, if dividend amount is less than Rs. 10,000 indemnity bond can be executed on a plain paper.
STEP III: PREPARATION OF E-FORM IEPF-5: –
After collection of above-mentioned information/ documents person have to file the form with MCA i.e. IEPF-5.
i. Create Log in on MCA Website
ii. Click on IEPF.gov.in
iii. Click on Web IEPF-5
iv. Fill the information there
v. Attached documents (as mentioned above)
vi. and submit the same.
STEP IV: Submission of Documents with Nodal Officer: –
After submission of IEPF-5. Claimant have to do the following things:
i. Take Print out of the IEPF-5
ii. Take Print out of Acknowledgement of IEPF—5
Courier all the above-mentioned documents along with these two documents to Nodal Officer of the Company. Details of Nodal Officers are available on website of the Company.
Note:
In the below mentioned cases, in addition to above documents some more documents are required to be prepare:
i. In case of Name Mismatch
ii. In case of Address mismatch
iii. In case original share certificate Lost/ Misplaced/ Not Available
iv. In case Joint Holder is deceased
v. In case Transmission of Shares
Note:
Above mentioned is complete process on the part of claimant for claiming shares/ dividend from IEPF. This is simple process, but claimant have to take proper care while complying with this process. In our next editorial we will discuss process after filing and courier of documents by claimant.
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Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).
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