Unpaid & Unclaimed Dividend
“The Dividend declared and Interest/Redemption amount distributed by the Company to its share/debenture-holders which remains unclaimed gets accumulated with the Company. The Ministry of Corporate Affairs (MCA) proactively addressed the issue by introducing Section 125 of the Companies Act, 2013, thereby making it compulsory to deposit unclaimed dividend, Interest/Redemption amount lying with the Companies for a period of seven years to the Investor Education and Protection Fund (IEPF), administered by the Central Government.
In terms of “Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016”, companies have to identify and upload details of unclaimed dividend, Interest/Redemption amount on their website.
Accordingly, information (as on March 31, 2019) is provided for the benefit of our share/debenture-holders.
Note: The unclaimed and unpaid dividend and debentures interest for FY1 has been transferred to IEPF