How to Get back Shares from IEPF?
As MCA has issued [1]Investor Education and Protection Fund Authority Rules, 2017. As per these rules “Any money as dividend not claimed by investor within 7 year and 37 days from the date of declaration of dividend, shall be transferred by the company along with interest accrued, if any, thereon to Investor education and protection fund.
Recently MCA has amended The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2021 Dated 9th November, 2021 and effective from same date.
Even All Shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the company in the name of Investor Education and Protection Fund.
In previous years shares of many persons has been transferred in the name of Investor Education and Protection Fund. As a normal person main issue is how to get recover such shares from the IEPF in their name.
In this editorial author shall endeavor to briefly discuss “Process for a general person to claim their shares from IEPF to their names and mistakes which a person should not made while applying for the same”.
By using the below mentioned process a General Person himself/ through any professional guidance can apply for refund of shares from IEPF to their names.
I. Whether Shareholder can claim transfer of shares/Dividend from Investor Education and Protection Fund.
Yes, any claimant of shares transferred to IEPF shall be entitled to claim the transfer of shares from Investor Education and Protection Fund in accordance with such procedure and on submission of such documents as discussed below.
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. 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 to sub-section (3) of section 125, as the case may be, to the Authority read with Rule 7 Refund to claimants from Fund
II. In respect of a Company, how many claim form can be file by the claimant in a financial year.
The claimant shall file only one consolidated claim in respect of a company in a financial year. Claimants have to very conscious while filing the form, because for a company he will get only one chance in a financial year.
III. In case of claimant is legal heir or successor or nominee of the registered share holder. In this case whether they can directly apply to IEPF for refund of shares or dividend?
In case, claimant is a legal heir or successor or administrator nominee of the registered security holder, he has to ensure that the transmission process is completed by the company before filing any claim with the Authority.
Step- I
Claimant to Authority
I. Claimant have to make application to MCA in e-form IEPF-5 by mentioning following details:
i. Particular of Applicant
ii. Particular of Company
iii. Details of Shares to be claimed
iv. Details of amount claimed
v. Year wise details of securities/deposits
vi. Aadhaar Number or Passport/OCI/PIO Card No. (in case of NRI/foreigners)
vii. Details of Bank account (Aadhar linked, in case applicant is not NRI/foreigner)in which refund of claim to be made
IV. Whether any documents required to be attached in the form IEPF – 5?
No need to attach any documents in the form.
NOTE:
i. Claimant have to download the form IEPF – 5 from the website of http://www.iepf.gov.in/
ii. After download have to fill the above mentioned information.
iii. After that claimant has to upload the form on website of IEPF only.
Step- II
Claimant to Company
The claimant and after filing the refund claim in this form online, shall to send the attachments prescribed below to Nodal Officer (IEPF) (details about nodel officer given below) of the company at its registered office in an envelope marked “claim for refund form IEPF Authority” for initiating the verification for claim:
i. Original Physical Share Certificate/ bond/ Debenture Certificate
ii. Indemnity Bond (original) with claimant signature
-
- On a non-judicial Stamp Paper of the value as prescribed under the Stamp Act if the amount of the claim is Rs.10, 000 or more.
- On a plain paper if the amount claimed does not exceed Rs.10,000.
- In case of refund of shares, on a non-judicial Stamp Paper of the value as prescribed under the Stamp Act.
iii. Advance Stamped receipt (original) with signature of claimant and two witnesses
iv. Copy of Aadhaar Card (For Indian Nationals)
v. Print out of duly filled claim form (IEPF-5) with claimant signature
vi. Copy of acknowledgement
vii. Cancelled Cheque leaf
viii. Copy of Passport, OCI and PIO card in case of foreigners and NRI
Step- III Appointment of Nodal Officer Company Compliance
Every company which is required to credit amounts or shares to the fund or has deposited the amount or transferred the shares to the Fund shall nominate a Nodal Officer, who shall either be a Director or Chief financial Officer or Company Secretary of the company, for the purposes of verification of claims and coordination with Investor Education and Protection Fund Authority:
- a company may appoint one or more Officer as Deputy Nodal Officer to assist the Nodal Officer for the purposes of verification of claim and for coordination with Investor Education and Protection Fund Authority:
- the Nodal Officer shall be solely liable for all actions of any officer appointed as Deputy Nodal Officer:
- In case a company fails to appoint Nodal Officer, every director of the company shall be deemed to be nodal officer and be liable for any failure to comply with requirement of these rules.]
Step- IV Company to Authority
I. Information of Nodal Officer to Authority:
The details of the Nodal Officer and Deputy Nodal Officer duly indicating his or her
- Designation,
- Postal Address,
- Telephone and
- Mobile Number and
- Company Authorized e-mail ID
shall be communicated to the Investor Education and Protection Fund Authority in Form No. IEPF – 2 within fifteen days from the date of publication of these rules and the company shall display the name of Nodal Officer and his e-mail ID on its website:
Any change in the Nodal Officer or his details shall be communicated to the Authority through Form No. IEPF-2 within seven days of such change along with board resolution thereof.].
II. Information of Nodal Officer to Authority:
- The company shall within 30 days of receipt of claim form, send a verification report to the Authority in the format specified by the Authority along with all documents submitted by the claimant.
- The Company shall attach the scanned copy of all the original documents submitted by the claimant in physical form duly certified by its Nodal Officer alongwith the e-verification report along with a scanned copy of both sides of original physical share certificate or original bond or deposit or debenture certificate/s duly cancelled and certified:
- Delay in submission of Report:
If the online verification report is not sent by the company within thirty days of filing of claim, the company may do so by paying additional feeof fifty rupees for every day subject to maximum of two thousand and five hundred rupees:
- the company shall be liable to maintain the original documents submitted to it by the claimant and shall produce such documents whenever required:
- Provided also that for failure to submit verification report of the claim in accordance with these rules, the company and its Nodal Officer shall be punishable as per the provisions of the Act.
NOTE:
In case of non receipt of documents by the Authority after the expiry of 60 days from the date of filing of Form IEPF-5, the Authority may reject Form IEPF-5, after giving an opportunity to the claimant to furnish response within a period of 15 days.
Step- IV Authority to Claimant
After verification of the entitlement of the claimant-
To the Amount Claimed, the Authority and then Drawing and Disbursement Officer of the Authority shall present a bill to the Pay and Accounts Office for e- payment as per the guidelines.
To the Shares Claimed. the Authority shall issue a refund sanction order with the approval of the Competent Authority and shall either credit the shares which are lying with depository participant in IEPF suspense account (name of the company) to the Demat account of the claimant to the extent of the claimant’s entitlement or in case of the physical certificates, if any, cancel the duplicate certificate and transfer the shares in favour of the claimant.
Time Period: An application received for refund of any claim under this rule duly verified by the concerned company shall be disposed of by the Authority within 60 days from the date of receipt of the verification report from the company.
If Incomplete Application:
Where the Authority, on examining any application for claim, finds it necessary to call for further information or finds such application or e-form or document to be defective or incomplete in any respect,
the Authority shall give intimation of such information called for or defects or incompleteness, by e-mail on the email address of the claimant and the company, which has filed such application or e-form or document,
Directing him or it to furnish such information or to rectify such defects or incompleteness or to re-submit such application or e-Form or document within fifteen days from the date of receipt of such communication, failing which the Authority may reject the claim or e-form No. IEPF-5:
If such information or incompleteness is called from the claimant, he shall file the e-form and shall send such documents as called for within fifteen days, duly signed by him, to the Nodal Officer of the concerned company at its registered office for verification of the claim and company shall send a revised verification report:
If any such information or incompleteness is called from the company, the company shall file the revised verification report and shall send such documents as called for within thirty days:
Other Documents Required to be submitted by Claimant:
In case, claimant is a legal heir or successor or administrator or nominee of the registered share holder, the claimant shall ensure to submission of self-attested scanned copy of all documents detailed in Schedule II of these rules online along with the Form No. IEPF-5:
In case of loss of securities held in physical form, he has to ensure to submission of self-attested scanned copy of additional documents detailed in Schedule III of these rules online along with the Form No. IEPF-5:
NOTE: The claimant shall submit in original all these documents duly signed by him, to the Nodal Officer of the concerned company at its registered office for verification of the claim.
A. To the Authority in case of loss of securities held in physical mode
a) Notarised copy of FIR/ Police Compliant containing information of security holder, holding details, folio number and distinctive numbers of share certificate.
b) Surety Affidavit of value equal to market value that of shares as on date of execution along with his Proof of identity like Pan Card of sureties duly attested by Notary.
c) 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.
d) Copy of advertisement issued 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 of company, if the market value of the shares is greater than Rs 10,000.
B. to the Authority in case of loss of securities held in physical mode
Such list is available on the following link:
http://ebook.mca.gov.in/Actpagedisplay.aspx?PAGENAME=28498
Penalty:
Any fraudulent claim by the claimant shall be deemed to be fraud within the meaning of section 447 of the Act and the claimant shall be liable accordingly.
If any person deceitfully personates an owner of any security or of any share warrant or coupon issued in pursuance of this Act and thereby files any claim to obtain or attempts to obtain any such security or interest or any such warrant or coupon due to the lawful owner, he shall be punishable under sections 57, 447 and 448 of the Act.]
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(Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected])
(Republished with amendments)
Author Bio
For any help regarding Iepf 5 please write to [email protected] or call 9819746178
If any one require transmission or Iepf procedure of shares In Karnataka contact me .mob.9845960961
If anyone need help from Mumbai state to get back shares from IEPF, duplicate share certificates, transmission of shares . Any issues call to 9819746178.
Hi Sir,
I am holding 100 Shears in my wife name Kusum Dhondiram Mulik of ESTER INDUSTRIAL LTD, now it transferred to IEPF ACCOUNT, I want get back my shares please let me know the procedure.
If anyone can help from Lucknow
I am from bihar. Anyone can help me to claim my share from iepf.
If anyone need help from Hyderabad Telangana state to get back shares from IEPF, duplicate share certificates, transmission of shares and obtain a Succession Certificate from the court. Any issues call to 9959895156.
Hello, is there any help available in Pune for claimingof shares from IEPF ?
I have purchased 8 shares from IMFA probably during 1983-84 in the name of my wife KONDUPARTI VENKATA RANGANAYAKI. I have completely forgotten about it and recently i could see in Google Search. These shared were transferred to IEPF . I KNOW ONLY ONE INFORMATION THAT THE POOL number is P0006097. Except this I have no other information. If anybody can help me, please send an email to me or call me to mymobile number 9247219322.
If any one need help from Telangana to get back shares from IEPF, Please call Satish – 9959895156
If any one need support from telangana to get back shares from IEPF, Please call satish – 9959895156
I am from Kolkata, West Bengal.
Query #1 : Value of stamp paper for Bond (Claim being for Rs 714/- as Dividend & 280 shares of face value 560/-) to be executed ;&
Query #2 : If bond is to be notarised or not.
Dear sir, I have 72 shares of reliance industries Ltd in physical form which are to be claimed from iep. I am having difficulty in filling form iepf-5. Can you please help.I am a senior citizen living in gurgaon. I can come and visit your office in Delhi. for the purpose.please advice.thanks and regards.you early reply shall be appreciated.my mail I’d is : rmsdatta@gmail .com
Hi Team,
Please help me how to fill the Indemnity bond with Form IEPF-5 .
Thanks & Regards,
Shyam Nirwan
Mob 9953698448
For any technical queries or assistance in recovering shares from the IEPF, one can contact our firm at [email protected] or call us at 9315645898. We are trying to resolve reclamation of shares from IEPF for investors across the nation.
One should be very particular about the documentation sent along with the claim.
Regards,
Ankit Garg
Advocate
Garg Law Chambers
iepfclaim.in
If you need help to get back shares from IEPF, Please call Suraj – 9088816141
is there any one from telangana to get back shares from iepf contact me.
9703202008
[email protected]
I have 100 shares of IDBI Bank and these shares was transferred to IEPF account. In Indemnity Bond what amount i mention and amount of stamp duty paid if i resident in West Bengal
Any one requires support for claim of shares and Dividend from Iepf pls contact me 9164026543 but From bangalore or from Karnataka
SIR,
I HAVE 20NOS OF EQUITY SHARES OF FACE VALUE 10; OF ULTRA TECH CEMCO LIMITED.
WHEN I HAD IT SENT THRU MY AGENCY FOR DEMAT PROCESS, IT WAS REJECTED GIVING THE REASON * : SHARES TRAFD TO IEPF A/C. SO I WANT TO CLAIM BACK THE SHARES FOR MY POSSESSION. KINDLY GUIDE ME. THANK YOU VERY MUCH. THARANIDHARAN, MADURAI, TN
in our name dhanasekar and Rameshkumar
we have completed all formalities of filling form IEPF-5,for refund of last 7 years dividend sent to IEPF by TTK Prestige limited corporate nodel office
we have also provided Karvy client id and this TTK prestige limited
June month onwards
we are waiting we did not got any information. Please suggest where should I register complain
my mobile +9382666772
I have completed all formalities of filling form IEPF-5,for refund of 24 Reliance Industries , and sent to Karvy office Hyderabad, some 4 months back . Till today I have not got any information. Please suggest where should I register complaint
Sir, Many of my shares in different companies have now been transferred to IEPF including dividends. In few companies I had multiple folios. I tried to fill Form no.5, but I feel that PDF form fill is defective & prepared in an amateurish manner. One can claim many years’ dividend in one application, but if he possess different folio in the same name he cannot fill up the data(for claim of shares). Since Aadhar no. is the same, he cannot apply claiming the shares in the same financial year as per rule. He will have to wait for 2 or more years for submission of claim. Moreover, I tried several times to register myself in the IEPF site, but failed every times. It is nothing but stealing of one’s property by Govt. by imposition of illegal rule. I doubt whether in my lifetime I shall be able to recover my shares/dividends from Govt. chest. If you have any solution for these problems, I shall be grateful.
Regards,
S.K.De
Dear Sir
I have uploaded the IEPF-5 form online but did not print the copies. Please advise how can I get copies of the loaded forms as required by the nodal officer.
I have managed to print the copy of SRN challan acknowledgment.
Please advise any suggestions.
My email address : [email protected]
Regards
Hi Sir,
I am holding 124 KPIT shares, now it transferred to IEPF, I want get back my shares; please let me know the procedure.
Thanks,
Ashok
My shares are transferred to IEPF
Name of company Hindustan Unilever
Name of holder PR / SR 20 shares Rs 1 each
SR/PR 20 shares Rs 1 each
Demat a/c PR/SR
Market value one share 1768
Market value of each Folio 35364
1) what is the value of stamp paper required
2) should both joint holder provide seprately or jointly ideminty bond
so whether I should submit 1 , 2 or 4 idemnity bond
dividend claimed is 200 each folio
3) for the second folio can ii provide transpose form and same demat a/c
4) Demat a/c linked bank is different from Aadhar’s last linked bank a/c
Respected Sir,
I have 20 shares of Hindustan unilever of Rs 1 jointly in my mothers name and my name
I also have 20 shares of Hindustan unilever of Rs 1 jointly in my name and My mothers Name.
Both have been transferred to IEPF
Demat a/c in the my mother name and my name.
My doubts
1) Idemnity bond value of Stamp Paper
should both sign Idemnity bond.
how many bonds should we submit
2) Can I get both 20 shares deposited to same demat a/c by submitting Transpose form for the second Folio
I HAD APPLIED FOR SHARES TRANSFERRED TO IEPF AUTHORITY AND REQUEST COMPANY ON 6.3.2018 ALL THE DOCUMENTS HAVE BEEN SENT TO IEPF BUT NEITHER IEPF AUTHORITY NOR COMPANY IS GIVING ANY REPLY, UNDERTHE CIRCUMSTANCES TO WHOM I HAVE TO CONTACT, PLEASE INFORM ME E MAIL ID OR ADDRESS OF OFFICE WHERE I HAVE TO INFORM
Sir
My father had few shares in D-mat form which i wanted to transfer in my name which are now transferred to IEPF fund.
I wanted to ask you about the value of Indemnity bond. The share value as on the date is arond 1.5 lacs .. can you please tell me the amount of stamp paper that i need to make my indemnity bond on.
I am holding shares in Asian Paints and subsequently migrated to Canada and never followed up with company. I do not have a demat account in my name though i had a joint demat with my wife. I do not have physical shares due to change in my address. How can i claim my shares in physical form, can i get shares transferred to my demat in joint name with my wife though shares are in my sole name.
Kindly guide for claiming these shares which i understand are transferred to MCA.
Dear Sir,
I have submitted all necessary documents and evidence to nodal officer and uploading IEPF 5 online successfully.There after already 3 months passed.I cannot track the status for the same on MCA portal.
and till the date I have not received my shares back in my demat account.Please guide me where to complain about the same ?
Hi,
I had a bond of 10,000 rs with icici and now the amount is submitted to iepf account. So inorder to claim the amount should i submit the indemnity bond and advance stamp receipt be NOTARIZED or not notarized
I am little confused about stamping of indemnity Bond for claiming shares from IEPF. For stamping purpose which value to be considered, nominal ( facevalue) or market value? PL let me know
kindly say me how can count stamp duty for bond to refund the share from IEPF
Respected Sir/Madam,
I AM HOLDING 25 SHARES OF PUNJULLOYD. BUT I COULD NOT DIVIDENED ENCASH DUE TO BANK DETAIL NOT UPDATDED IN MY DEMAT ACCOUNT. KINDLY LOOK INTO THE MATTER AND SUGGEST HOW CAN I RETURN BACK SHARES
sir i am holding shares of DLF CEEMENT. BUT I COULD NOT DIVIDENED ENCASH DUE TO BANK DETAIL NOT UPDATDED IN MY DEMAT ACCOUNT KINDLY LOOK INTO THE MATTER AND SUGGEST HOW CAN I RETURN BACK SHARES
Dear Sir, Please advise me on transfer of shares of my deceased father on my name. My father hold 100 shares of Yuken India and these shares are transferred to IEPF. I am a legal heir.
How can I get unclaimed dividend back and share transferred on my name. The shares are in physical forms.
regarding matters related to shares n iepf call 9819746178
IEPF Rules Comes in existence from financial year 2017. Can i claim Dividend of Financial Year 2001-02 which is transferred with IEPF Fund.?
i am having shares of a company in the name of my wife(first name) and my self(second name) which were transferred to IEPF, while filling the form whether we have to give first name of the applicant only or joint names of the applicants at the place of name of the applicant as it is not accepting two names separately at the place of name of the applicant.
How can a claim made to IEPF be tracked. I had sent my claim on IEPF 5 to Karvy computershare for doing their needful. How can i know the status and fate of my application?
Thanks in anticipation
Sir kindly send me the procedure for getting back the shares of my grandfather brother shares in my mother name from iepf authority and can we become legal heir since they have no children and stayed with us at the fag end of the life.
Since my grandfathers brother was in Mumbai and lived there and at the fag end of the life they settled at their born place at davangere Karnataka in his nephews house and died both of them in my mother house at davangere can my mother can apply for legal heir since my father also expired recently .my mother is at the fag end of the life now can she claims from iepf authority for the father in. Law brothers and his wifes shares.kindly reply
Anyone needing assistance for reclaiming their shares from the IEPF can kindly contact me with their queries. I am a lawyer and a CA having expertise is such reclamation of shares.
Regards,
Ankit Garg
What is your Contact Details??
I hold 300 shares of midland rubber &produce co .my srn is G69336535.but the form is rejected. due to insufficient documents the company is not obliging.please help me
I have the shares of Tata Group company in joint name with my cousin. Whather the Advance Receipt and Indemnity bond will be made on joint name for Dividend and Shares both ? or else i have to prepare advance receipt and indemnity bond with single name and for single purpose only? Please guide me in preparation of Advance receipt and indemnity bond.
Physical Shares in Hand bought from Transferor few years back, Shares not in my Name now , are transfered to IEPCF A/c.Help
I had purchased Bombay Burmah Shares by Physical Shares some years back from a friend but could not lodge the same for Transfer in my Name as it was misplaced.Now I have found them but they are transfered to IEPF A/c. The seller is co-operating only to the extent of Signing a fresh SH-4 . How can I proceed.
I have 100 shares in my neice name. Physical form original allotee of Kisan Mouldings ltd. Company transfer the shares to IEPF. how can claim priginal allotee dont have demat account.
Please suggest.
I have 2000 shares of Rupa and Company Ltd which were transferred to IEPF. Tell me how can I claim it. Further in Share certificate my name is Arun Sharma but my all IDs like Aadhar, ration card, voter card are in the name of Arun Kumar and now my address is also changed. Tell me the process to get the unclaimed amount of my shares
I am primary allotte of 100 shares of Jindal Vijay nagar Steel which were converted to 40 shares od JWS steel(as I have been told 20 days ago) I emigrated to Australia and lost my communication until late last year when I found this certificate of 100 shares. I can’t understand how I have to fill the form IEPF 5 for claiming back my shares And it says on non judicial stamp paper and receipt with revenue stamp. These both things I can’t get in Australia. Can u please suggest some way out.
power of Authority can be given to someone in India
call 9819746178