I. TRANSFER OF SHARES+
Q.1 How do I register the share certificates in my name and how long will it take?
A. You will have to send the share certificates and the Share Transfer Deed in the prescribed Form SH-4 (available with Stock Exchange/Share Brokers) duly filled in, executed and affixed with share transfer stamps at 0.25% of the market value on the date of execution of the transfer deed.
Please note that copies of self-attested PAN cards of all the transferees are mandatory for registration of transfers.
The shares, along with the Share Transfer Deed and copies of self-attested PAN cards will have to be sent to the Company at the following address:
The Indian Hotels Company Limited
Investor Relations, 2nd floor
Mandlik House, Mandlik Road
Phone Number: +91 022 66395515
It takes 15 days to process the transfer. Once the shares are registered in your name, you will receive the original share certificates duly endorsed/transferred.
It is advisable to get your shares dematerialized through your Depository Participant. Please refer to Point II on dematerialization of shares for more details.
Q.2 How do I register gifted shares? Does this involve stamp duty?
A. The procedure for registering gifted shares is the same as the procedure for a normal transfer. Stamp duty is also applicable on gifted shares and the duty is at 0.25% of the market value prevailing on the date of execution of the transfer deed. However, in case of shares held in dematerialized form, no Stamp Duty is required to be paid.
Q.3 What is the stamp duty on shares transfer? Where do I get these stamps?
A. The stamp duty applicable on share transfer is at 0.25% of the market value on the date of execution of the transfer deed.
You can get the Transfer Deed franked with the requisite stamp duty by any bank where franking services are available.
Q.4 How do I ensure that the Transfer Deed is complete before sending it to the Company?
A. Ensure that the requisite details such as folio number, certificate number, distinctive number, name of the holder(s), name, address of witnesses are filled in and the Transfer Deed is signed by the transferor(s) (signatures of all holders in case of joint holding) and the witness.
Please note that attestation of transferor’s signature by a Manager of a nationalized bank where the transferor holds a savings account will minimize the chances of rejection of transfer request on account of signature mismatch.
Get the Transfer Deed franked with the requisite stamp duty at 0.25% of the market value on the date of execution of the transfer deed by any bank and fill in all the columns of the transfer deed, sign as transferee at appropriate places.
Q.5 How do I add another person as a joint-holder to my shareholding. What is the procedure that I should follow?
A. To add a joint-holder name to your shareholding, please execute a stamped transfer deed and submit the same to the Investor Service Counter for transfer. Please note that such additions amount to a change in ownership of shares and the transfer procedure explained above has to be followed.
Q.6 I have purchased IHCL shares long back but forgot to get them transferred in my favour. What is the procedure that I should follow now?
A. A transfer deed (SH-4, Securities Transfer Form) is valid for a period of sixty days from the date of execution of the deed. Please check whether your transfer deed is still valid. If so, submit the transfer deed duly executed and stamped along with share certificates to the Company for transfer in your favour.
If the validity period of the transfer deed has expired, please approach the registered holder/seller whose signature appears on the transfer deed as Transferor to execute fresh transfer deeds. Thereafter, you may submit the fresh transfer deed to the Investor Service Counter for transfer.s
Q.7 What is the procedure for transfer of shares in favour of transferee(s)?
A.The transferee is required to send the following documents to the Company for getting the shares transferred in his name:
- Duly executed share transfer deed in prescribed e-form SH-4.
- Original share certificate(s).
- PAN card of both, seller (transferor) and buyer (transferee) - self attested
Q.8 Is submission of Permanent Account Number (PAN) mandatory for transfer of shares in physical form?
A. As per the provisions of SEBI (Listing Regulation) 2015, for registration of transfer of securities, copies of the PAN card of both transferee(s) and transferor(s) are required to be submitted for transfer of shares in physical form.
Q.9 What is the Procedure for splitting of a share certificate into share certificates representing small number of shares?
A.Shareholder may write to the Company enclosing the relevant share certificate for splitting into smaller lots. The share certificates, after splitting, will be sent by the Company to the shareholders at the shareholder’s address registered with it.
Q.10 How can I get the various share certificates consolidated into a single certificate?
A.Shareholders having share certificates in various denominations under the same folios are required to send all the certificates to the Company for consolidation into a single certificate.
In case the shares are not held in more than one folio but all the folios are in the same order of names, you need to write to Company seeking consolidation of folios.
II. DEMATERIALISATION OF SHARES+
Q.1 What is Dematerialisation of shares and what are its benefits?
A.Dematerialisation (or Demat) signifies the conversion of the securities held in physical form to electronic form for the same number of holdings.
The Depositories Act, 1996 has been enacted to regulate the matters related and incidental to the operation of Depositories and demat operations. Currently in India two Depositories are in operation - National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).
It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical to electronic form.
Demat attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers. Further, change in address, bank account particulars, etc. recorded with the Depository Participant gets registered electronically with all the companies in which the investor holds securities. Also it aims to shirk inherent problems of bad deliveries, delay in processing, fraudulent interception in postal transit, loss or theft of share certificates, forgery and helps in reduction of paperwork, etc. The shares that are created through mergers and consolidation of companies are credited automatically in the Demat account.
Further, dematerialisation creates ease in portfolio monitoring, reduction in cost of transmission by elimination of Stamp duty and facilitates direct credit of shares in case of allotment under IPO, Rights Issue, Bonus, Split, etc.
Dematerialisation of shares is optional and an investor can still hold shares in the physical form. However, investor has to demat the shares if he wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he will get delivery of the shares in Demat form.
Q.2 How does the Depository System operate?
A.The operations in the Depository System involve the Depositories, Depository Participants, Company/Registrars and Investors.
A Depository (NSDL and CDSL) is like a Central Bank, i.e. Reserve Bank where the securities of an investor are held in the electronic form through Depository Participants.
A Depository Participant is the agent of the Depository and is the medium through which shares are held in the electronic form. They are also the representatives of the Investor, providing the link between the Investor and the Company/ Registrar through the Depository.
The Depository System functions in a manner similar to a banking system. A bank holds funds in accounts whereas a Depository holds securities in accounts for its clients. A bank transfers funds between accounts while a Depository transfers securities between accounts.
In both systems, the transfer of funds or securities occurs without the actual handling of funds or securities. Both, the bank and the Depository, are accountable for the safe keeping of funds and securities respectively. The Company signs an Agreement with NSDL/CDSL (the depositories) and to admit its securities into the depository.
Q.3 How do I demat my shares?
A.You need to open an account with a Depository Participant (DP) and obtain a unique Client ID number. Thereafter, kindly fill up a Dematerialisation Request Form (DRF) provided by the DP, submit it in triplicate and surrender the physical share certificates intended to be dematerialized to the DP.
Upon receipt of the shares and the DRF, the DP will send electronic requests through the Depository to the Company for confirmation of the request. Each request will bear a unique transaction number.
Simultaneously, the DP will surrender the DRF and the shares to the Company with a covering letter requesting the Company/Registrar to confirm the request. After verifying the documents received from the DP, the Company confirms the request to the Depository.
This confirmation will be passed on from the Depository to the DP, which holds your account. After receiving this confirmation from the Depository, the DP will credit the account with the dematerialized shares. The DP will then hold the shares in the dematerialized form on your behalf and you become the beneficial owner of these dematerialized shares.
Q.4 How do I trade (buy/sell) in electronic form?
A.You may buy and sell securities in electric form through the Depository by co-ordinating with your broker and your DP. Such transactions would be simpler and faster. Payments for such transactions would be made in the same way as is done for physical certificates. Securities purchased in electronic form are credited to your account on the very next day of pay out with no formalities of filling transfer deeds or applying to the Company for registration. Such transactions are not routed through the Company and the debit/credit takes place directly in the Depository System. However, corporate benefits would be paid to the person holding such securities on the Record date/ Book closure date as applicable.
Q.5 How do I convert dematerialized shares into physical shares?
A.If you hold shares in the electronic form, you have the option of converting your holding to the physical form by submitting a Re-materialization Request Form (RRF) through your DP. The procedure is similar to that of Dematerialisation. Upon receiving such a request from your DP, the Company will issue physical share certificates for the number of re-materialized shares.s
Q.6 What are the charges to be paid to demat one’s physical shares? Will it be paid by the Company or do I have to pay for it?
A.The charges for demat have to be borne by the shareholder. The charges differ from DP to DP and therefore you will have to contact your DP for details regarding the same.
Q.7 I have purchased some shares in physical form. Can I directly give the share certificates to my Depository Participant for converting them in demat form in my favour?
A.Shares should be registered in your favour before they can be converted in a demat form. Please follow the procedure for transfer of shares.
Q.8 Is it a fact that IHCL shares are to be traded compulsorily in Demat Form? Do I have the option of holding them in physical form?
A.Yes. As per the requirement of SEBI, with effect from April 5, 1999, it has become compulsory to trade shares in demat form. However, you can exercise the option of holding the shares in physical form.
Q.9 How do I get my dividends, Bonus shares or Rights shares on Demat shares? Will I get the Annual Report after I demat my shares? Will I be able to attend the AGM?
A.On the Record date, the Depository Participants will provide a list of demat account holders indicating the number of shares held in electronic form (known as Benpos – Beneficiary Position). On the basis of Benpos, the Company will make dividend payments in favour of the demat account holders.
The rights of the shareholders holding shares in demat form are at par with holders of shares in physical form. Hence, you will be eligible to receive the Rights shares, Bonus shares and Annual Report and can rightfully attend the AGM as a shareholder.
It is advisable to register your NECS mandate with your Depository Participant to enable the Company to credit dividends electronically.
On case of non-receipt of dividend, Rights or Bonus, you may contact the Company quoting your account details.
Q.10 What are the chances of any fraud/disputes in using a demat account? Whom should I approach in such cases?
A.Common risk factors applicable to trading in physical shares like mismatch in signatures, loss in postal transit, etc., are absent since shares in a demat form are traded scrip-less.
However, in the unlikely event of any dispute, your Depository Participant needs to be approached for resolution of the same.
Q.11 Can I pledge my shares in demat form to avail any funding/loan arrangement with my bankers?
Q.12 Why can't the Company take request for change of details recorded in the demat account?
A.As per the Depository Regulations, the Company is obliged to take on record the details of demat shareholders furnished by the concerned Depository Participant. The Company cannot make any change in such records received from the Depository.
Q.13 Can shares held jointly in physical form be dematerialised, if the sequence of names mentioned in certificate differs from the sequence of names as per Demat account?
A.Yes, for this purpose you need to submit duly signed Transposition form along with the DRF and share certificate(s) to your DP.
Q.14 Whom should I inform change in my address, bank account details etc. in respect of shares held in Demat form?
A.All request/ communication regarding change in address, bank account details, NECS mandate, registration of nomination etc. should be addressed to your DP directly.
Q.15 Can I do Demat cum deletion of name?
A.Yes, you can. Kindly contact your DP for more information.
III. NOMINATION IN RESPECT OF SHAREHOLDING+
Q.1 What is nomination and what are its advantages?
A.This facility is mainly useful for individuals holding shares in sole name. In the case of joint holding of shares by individuals, nomination will be effective only in the event of death of all joint holders. Nomination refers to the act of nominating a person in whom the shares would vest in the event of unfortunate death of the nominator (shareholder).
Notwithstanding anything contained in any other law or any testamentary deposition or otherwise, in respect of the shares, where a nomination has been made in accordance with the provisions of Companies Act, 2013 or any modifications thereof, on the death of the shareholder, (or in case of joint holdings, on the death of all the joint holders), the Nominee shall become entitled to the rights in relation to such shares held by the deceased shareholder(s), to the exclusion of all other persons unless the nomination is revoked.
Q2. How do I make a nomination with regard to my shareholding?
A.To make a nomination, please submit a duly filled in and signed nomination form (Form SH-13) in duplicate. In case of joint shareholding all holders are required to sign the nomination form.
Nomination in respect of shares held in physical form can be sent to the Company. After the Company receives the form and finds it in order, a registration number will be allotted to the nomination request.
The duplicate copy of the nomination form will be returned to the shareholder(s) indicating the registration number and the date of registration of nomination.
Option for multiple nominations for each folio is also available.
Nomination Form is available for download on the website. Link?
In case of shares in Demat form, nomination has to be recorded with your Depository Participant.
Q.3 Do I have to send my share certificates along with the nomination form?
A.It is not necessary to send your share certificate at the time of registration of nomination.
Q.4 My shares are held in joint names. Are the joint holders nominees to the shares?
A.Joint holders are not nominees. They are joint holders of the shares. In the event of death of any one of the joint holders, the surviving joint holder/s of the shares is/are the only person/persons recognized under the Companies Act, 2013 as the holders of the shares.
Q.5 Can a nomination once made be changed? What is the effect of nomination upon transfer of shares?
A.A nomination once made can be revoked by submitting a fresh nomination. If the nomination is made by joint holders, and one of the joint-holders dies, the surviving joint holder/s can make a fresh nomination by revoking the existing nomination. Further, upon transfer of shares, the nomination stands automatically rescinded.
Q.6 What is the legal position of the nominee in case of death of the shareholders?
A.Shares held by sole holder:
Upon the death of the shareholder, the nominee, to the exclusion of any other legal heir/beneficiary, is the only person in whom the shares vest. In other words, in case of a valid registered nomination, the Company will not entertain any claim from legal heirs or beneficiaries and the shares will be transmitted only in favour of the Nominee.
Shares held by joint holders :
If one of the joint shareholders dies, the shares will devolve on the surviving shareholders to the exclusion of the nominee. In this case, the surviving shareholders may make a fresh nomination if they so desire.
Q.7 What is the procedure for the nominee to get the shares in his name?
A.Upon the death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He is required to submit a notice in writing to this effect along with the original share certificate and an attested copy of the death certificate of the deceased shareholders
If a nominee opts for registration of shares in his name, he has to submit a Transmission Form along with a copy of the PAN card, signature attested by his bank and proof of address, e.g. copy of passport, driving license, voter's identity card or such other proof, to the satisfaction of the Company.
Upon scrutiny of the documents submitted by the nominee, shares will be transmitted in his favour and share certificates will be returned to him duly transmitted.
Q.8 I have shares in demat form. Can I send the nomination form to the Company for making a nomination with respect to my shareholding?
A.In respect of shares in Demat form, for nomination kindly approach your Depository Participant.
Q9. What is the effect of nomination when a shareholder dies leaving a minor nominee?
A.In terms of sub-section (4) of Section 72 of the Companies Act, 2013, if the Nominee is a minor, it shall be lawful for the holder of the shares to nominate in the prescribed manner any person to become entitled to shares in the event of his death during the minority of the Nominee. In case of a minor Nominee, a person is required to be named as a guardian to whom the shares shall vest in the event of death of the shareholder during minority of Nominee. On attaining majority, the Nominee is required to send a notice of his decision to either become a shareholder or to transfer the shares.
Q10. Can I nominate a person for a part of my shareholding?
A.No. The nomination should be made for the entire shareholding under a folio.s
Q11. Who can appoint a nominee and who can be appointed as a nominee?
A.Individual shareholders holding shares in single name or joint names can appoint a nominee. In case of joint holding, joint holders together have to appoint the nominee. An individual having capacity to contract only can be appointed as a nominee. Minor(s) can, however, be appointed as a nominee.
Q.12 Can a nomination once made be revoked / varied?
A.It is possible to revoke / vary a nomination once made by submitting a duly executed for SH – 14 with the Company. If nomination is made by joint holders, and one of the joint holders dies, the remaining joint holder(s) can make a fresh nomination by revoking the existing nomination.
Q.14 Is nomination form required to be witnessed?
A.A nomination form must be witnessed.
Q15. Can a Non Resident (NRI) nominate?
A.Yes, a NRI can nominate. But a Power of Attorney holder cannot nominate on behalf of NRI.
Q16. Can a NRI be nominated?
A.NRI can be a nominee on repatriable or non repatriable basis subject to RBI’s permission as applicable.
IV. TRANSMISSION OF SHARES+
Q.1 In case of joint shareholding, in the event of death of one shareholder, how do the surviving shareholders get the shares transmitted in their names?
A.The surviving shareholders are required to submit a request letter supported by a self attested copy of PAN card of all surviving holders, an attested copy of the Death Certificate of the deceased shareholder and the relevant share certificates. It is advisable if the documents are accompanied by a duly executed Transmission Form. The form is available for download on the website.
The Company, on receipt of the said documents, will delete the name of deceased shareholder from its records and return the share certificates to the applicant/registered holder duly transmitted.
Q.2 If a shareholder who held shares in his sole name dies without leaving a will, how can his legal heir/s get the shares transmitted in their names?
A.The legal heirs are required to obtain a Succession Certificate or Letter of Administration with respect to the shares. A true copy of the same, duly attested by the Court Officer or Notary, should be sent to the Company along with a request letter, signature of the legal heirs attested by the bankers, self- attested copy of PAN card of all the claimants, transmission form and all original share certificates for transmission in their favour.
Q.3 If the deceased family member who held shares in his/her own name leaves a Will, how do the legal heir/s get the shares transmitted in their names?
A.The legal heirs are required to get the Will probated by the High Court/District Court of competent jurisdiction and then send it to the Company a probated copy of the Will. This should be accompanied by a relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original, the transmission form for transmission, signature of the legal heirs attested by the bankers, self-attested copy of PAN card and address proofs of all the claimants.The legal heirs are required to get the Will probated by the High Court/District Court of competent jurisdiction and then send it to the Company a probated copy of the Will. This should be accompanied by a relevant schedule/annexure setting out the details of the shares, the relevant share certificates in original, the transmission form for transmission, signature of the legal heirs attested by the bankers, self-attested copy of PAN card and address proofs of all the claimants.
Q.4 How do I get the shares transmitted in my name upon death of joint shareholders?
A.Kindly obtain a Succession Certificate/Letter of Administration of the last deceased joint shareholders in your favour and follow the procedure for transmission of shares.
Q.5 I have already produced the attested/registered Will. Since getting it probated would take a long time and money, is it possible to avoid that procedure?
A.In order to ascertain that the Will in question is the last Will and testament made by the deceased, it is important that the same is probated by the Court. This is to protect the interest of the investors at large and to obviate any future claims/disputes on the same.
Q.6 The name of a joint holder was included only for convenience by the first holder. I am the only heir. Could you transfer the shares in my name as per the will/probate?
A.As per law, the joint holder is deemed to be having indivisible ownership of the joint property and the Company cannot ascertain as to how or why the name was included. As per the Articles of Association of the Company, the surviving joint holders are the only persons recognised as having title to the shares.
Q.7 Can I request to transmit part of the shares held under a folio?
A.Transmission will be given effect in the manner and in accordance with the Will, Probate / Order issued by the Court.
Q.8 What happens in case the legal heir cannot trace the share certificate(s)?
A.In case the legal heir(s) cannot trace the share certificate, he may apply to the Company for issuance of duplicate share certificate(s) along with request for transmission of shares. In addition to submission of documents prescribed for transmission of share(s), legal heir is required to follow the procedure for issue of duplicate share certificate(s).
Q.9 Is Stamp duty payable on transmission of shares?
A.No, stamp duty is not required to be paid for transmission of shares.
Q.10 What should I do, in the event of death of one of the joint holder?
A.In case of such an event, please intimate the fact of the demise of the concerned shareholder to the Company in writing, enclosing therein a certified copy of the death certificate issued by the local / statutory authorities, self-attested copy of the surviving shareholder’s PAN card and proof of address and the share certificate(s), in original. The Company on receipt of the above documents will delete the name of the deceased shareholder and return the share certificate(s) duly endorsed in favor of the surviving shareholder(s).
Q.11 Can I delete the name for a part of my shareholding under a folio?
A.No. Deletion of name has to be done for the entire shareholding under a folio.
Q.12 After deletion of name, as above, can I add another name?
A.Addition of name is tantamount to transfer of shares hence can be done by following the procedure laid for transfer of shares.
Q.13 What is the procedure for transmission of shares that are held in electronic form?
A.Kindly Contact your Depository Participant for the same.
Q.14 Can I do Demat cum deletion of name?
A.Yes, you can. Kindly contact your DP for more information.
V. CHANGE OF ADDRESS+
Q.1 If there is a change in my address, what is the procedure to get it recorded with the Company?
A.In case you hold shares in physical form, please submit your application in writing duly signed by all the shareholders, quoting your folio number, old address, new address along with a self-attested copy of the proof of new address (e.g., Ration Card, Valid Passport, Telephone Bill or Electricity Bill, Driving Licence, Rent Receipt or Leave and Licence Agreement) and in case you are holding the shares in Demat form, request for change of address should be addressed to your Depository Participant only.
Q.2 Can there be multiple addresses for a folio?
A.There can be only one registered address for a folio.
Q.3 If the shares are in demat form, what is the procedure for change of address?
A.Depository Participant maintains the records of your shares in demat form, you have to approach your Depository Participant to effect any change in your address.
Q.1 I have not received my dividend. What action do I take?
A.You may write to the Company furnishing the particulars of the dividend not received. Also quote your folio number/client ID particulars (in case of shares in a demat form). We will check our records and issue a duplicate dividend warrant if the dividend is unpaid in the records of the Company.
Q.2 What is the procedure for obtaining a duplicate dividend warrant?
A.During validity period of the lost dividend warrant, you will have to wait till the expiry date. However, once the validity period has expired, if the dividend warrant is still shown as unpaid in our records, we shall issue a duplicate warrant expeditiously.
Q.3 Why do shareholders have to wait till the expiry of the validity period of the original warrant? Is it possible for you to issue stop payment instructions to the bank for the original warrant and issue a duplicate immediately?
A.Since the dividend warrants are payable at par at all branches of the dividend banker across the country, it is not practically possible for banks to issue stop payment instructions. Hence, it becomes necessary for us to wait till the expiry of the validity of original warrant.
Q.4 Can I claim old dividends relating to past years that I have not received?
A.As per the Companies Act, 2013, dividends that are unclaimed for a period of seven years, statutorily get transferred to the Investor Education and Protection Fund (IEPF) administered by the Central Government and thereafter can be claimed by investors (applicable for the unpaid dividend payments from the year 2007 onwards). To ensure maximum disbursement of unclaimed dividend, the Company sends reminder to the concerned investors, before transfer of dividend to IEPF.
Q.5 In order to protect against fraudulent encashment, I want to incorporate the details of my bank account on my dividend warrant. What is the procedure that I should follow?
A.In case you hold shares in physical form, please submit the Mandate form, which can be downloaded from the website, duly executed along with a copy of cancelled cheque to the Company to incorporate the same in all your future dividend payments.
In case you hold the shares in demat form, these details will have to be provided to the Depository Participant with whom you have a demat account.
Q.7 What is National Electronic Clearing Service (NECS)?
A.Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss, postal delay and fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in the physical form.
Q.8 How can I avail of the National Electronic Clearing Service facility?
A.If you are holding shares in physical form, you are required to submit the NECS form, which can be downloaded from the website, duly completed along with a photocopy of cheque leaf and we shall take due note of the same in our records. All subsequent dividends will be paid to you through direct credit to your bank account.
If you are holding shares in demat form, you may approach your Depository Participant for updating NECS mandate.
Q.9 Is the NECS facility available across the country?
A.NECS facility is available across India.
Q.10 How do I check the unpaid / unclaimed dividend details on the website?
A.The Company has uploaded the details of investor as on August 27, 2014, whose dividend is unpaid / unclaimed for the past seven years with MCA website and also on its website. You can check the details of unpaid / unclaimed dividend through search facility provided on the website.
Q.11 How does one get dividend on shares held in electronic form?
A.The Company obtains the details of beneficiary holders from the Depositories as on the date of the book closure /record date fixed by the Board of Directors. Dividend in respect of shares held is normally paid electronically if the 9 digit Magnetic Ink Character Recognition (MICR) code is available in the said details. In the absence of the said MICR code, dividend warrants are issued and dispatched to the address of the shareholders.
Q.12 How can I revalidate a dividend warrant?
A.Please return the outdated (stale) dividend warrant to the Company for revalidation or issuance of fresh cheque, as the case may be.
Q.13 What happens to a dividend if not claimed within 7 years?
A.Dividends not claimed, within seven years from the date of its transfer to the unpaid dividend account, will be transferred to the Investor Education and Protection Fund (IEPF) established by the Government.
Q.14 When is the unclaimed/ unpaid amount transferred to the IEPF Fund?
A.Pursuant to section 124(5) of Act, 2013, a company shall transfer any amount lying in the Unpaid Dividend Account for 7 years along with interest accrued, if any, thereon to the Fund.
Q.15 What is the purpose of Form IEPF-5?
A.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 IEPF 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 by making an application in Form IEPF-5 available online on IEPF website (www.iepf.gov.in) along with fee, as decided by the Authority from time to time in consultation with the Central Government, under his own signature.
Q.16 What will be the course of action where the Company declares dividend on the shares which have already been transferred to the fund?
A.If the Company declares any further dividend on the shares which have already been transferred to the Fund, the amount received on such shares shall also be transferred to the Fund.
VII. LOSS OF SHARE CERTIFICATES+
Q.1 I have lost/misplaced my physical share certificates, what are the steps that I should take to obtain duplicate share certificates?
A.Immediately on being aware of the loss /misplacement of your share certificate(s), kindly follow the procedure mentioned below:
- Lodge a First Information Report (FIR) with your local police station.
- Submit your application in writing to the Company, duly signed by all the shareholders, quoting your folio number, details of share certificate(s) lost, along with original/certified copy of the FIR.
- The Company on verification, will mark 'Stop Transfer' against the share certificate(s) reported as lost/misplaced by you for a period of 15 days and will provide you the detailed procedure for issue of duplicate share certificate(s), including the draft of the affidavit and indemnity to be executed by you.
- On receipt of all the aforesaid documents, the Company will publish a public notice in two newspapers (English & Marathi) giving the details of the share certificate(s) reported as lost / misplaced by shareholder(s), seeking objections if any, to the issuance of duplicate share certificate(s).
- In case no objection is received within 7 days from the date of the said notice, the Company will proceed to issue you the duplicate share certificate(s).
Q.2 What action should I take if I retrieve the original share certificate, which I had reported to the Company to be lost?
A.Please surrender the original share certificate to the Company immediately if duplicate share certificates have been issued. However, if the original share certificates are found before you comply with the procedure for obtaining duplicate share certificates, kindly inform the Company immediately so that we can remove the caution from your folio.
Q3. What is the procedure for replacement of share certificate(s) in lieu of torn, defaced or mutilated share certificate(s)?
A.Please submit your application in writing to the Company, duly signed by all the shareholders, requesting for replacement of share certificate(s), enclosing therein the torn, defaced or mutilated share certificate(s).
VIII. GREEN INITIATIVE+
Q.1 What is Green Initiative? Why should I register for the same?
A.Green Initiative is an effort of the Government of India which aims at reducing paper consumption thereby contributing to a greener environment.
Towards this end, the Ministry of Corporate Affairs vide its Circular Nos. 17/2011 dated 21/04/2011 and 18/2011 dated 29/04/2011 commenced the “Green Initiative in Corporate Governance” thereby allowing Companies to issue Annual Reports and other documents to the shareholders in electronic mode.
By registering for Green Initiative, every shareholder will get an opportunity to contribute to this noble cause for the benefit of our future generations.
Q.2 How do I register for e-Communication?
A.To register for e-communication, you need to have an email ID. You may write to the Company by filling up the e-Communication Registration Form. This is applicable for shares held in physical mode.
E-Communication Registration Form is available for download on the website.
To register for e-communication for shares held in electronic mode, you will have to contact your Depository Participants.
Q.1 I wish to split/consolidate my share certificates. What is the procedure that I should follow?
A.Please forward your share certificates along with a request letter signed by all the registered shareholder(s) in order to split/consolidate the share certificates accordingly
Q.2 I hold more than one folio in the same name. Can I consolidate these folios?
A.Yes, you can. If you have more than one folio registered with same address and identical names which are in the same order, please submit the following: -
- Amalgamation form duly completed and signed by ALL the holders as per the specimen signature(s) recorded with the Company. This form can be downloaded from the Company’s website.
- Relevant certificates pertaining to the folio having the smaller holdings. Do not send the certificates pertaining to the larger holdings, into which account the multiple folio is being amalgamated.
- Self-attested copy of the PAN Card of the holder(s).
For securities held in electronic form, please contact your Depository Participant.
Q.3 In the year 2006, the Company had sub-divided its shares from the face value of ` 10 each to ` 1 each. However, I still hold share certificates of ` 10 each. How do I exchange them with new share certificates of ` 1?
A.Please forward your old share certificates to the Company along with a request letter signed by the registered shareholder(s) and we shall return the new share certificates of face value ` 1/- each to you.
Q.4 I want to authorize another person to deal with my shares. Do I have to report this to the Company?
A.You will have to execute a Power of Attorney (POA) in favour of the concerned person and submit a notarized copy of the same to the Company for registration. After scrutiny of the documents, we shall register the POA and provide you with the registration number of the same.
Q.5 We hold shares in joint names and would like to change the order of names.
A.The process to change the order of names is called as transposition of shares. Please forward your share certificates along with a request letter duly signed by all the joint-holders as per the specimen signatures recorded with the Company.
Q.6 Why do I register my Permanent Account Number (PAN)?
A.Registration of PAN details will safeguard the interests of the investors. PAN is a unique checkpoint to ascertain the genuineness of the request of the shareholders.
SEBI has notified vide its Circular No. MRD/DOP/CIR-05 2009 dated May 20, 2009 that it is now mandatory for all transactions in the securities market including transfer of shares in physical form of Listed companies should be accompanied along with copy of the PAN Card of the transferee(s). In case there are joint holders as transferee(s), copy of the PAN Card should be made available for the joint holders along with the Transfer Deed.