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Unclaimed Dividend / Shares
Unclaimed Dividend / Shares
Transfer of shares to IEPF
Members may please note that pursuant to Section 124 of the Companies Act, 2013 read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“Rules”) as amended by the Ministry of Corporate Affairs (“MCA”), shares of the Company in respect of which dividend amounts have remained unpaid / unclaimed for seven (7) consecutive years or more are required to be transferred to the “DEMAT Account of the Investor Education and Protection Fund (“IEPF”) Authority” (“Authority”).
Unclaimed final dividend for the year 2008-09 and interim dividend for the year 2009-10 pertaining to members who have not encashed the said dividends have been transferred to IEPF within the statutory time period. Underlying shares of which dividend amounts have remained unclaimed from final dividend for the year 2009-10 onwards for seven (7) consecutive years or more will be transferred to the Authority.
The details of members and shares whose shares are liable to be transferred to the Authority is enclosed. This shall be deemed adequate notice in respect of issue of duplicate share certificate(s) by the Company for the purpose of transfer of shares to the Authority pursuant to the Rules.
Complying with the requirements set out in the Rules, the Company has communicated to the concerned members individually whose shares are liable to be transferred to the Authority under the said Rules for taking appropriate actions.
If members have not received letters sent by the Company, please fill in the details in the enclosed format and send it to our Registrar & Share Transfer Agent (“RTA”) to their address mentioned hereinafter on or before May 25, 2017.
Members who have not encashed their dividend amounts may please claim the same by making an application immediately in the form provided hereunder along with a copy of self-attested valid Identity Proof (which has your photograph and / or signature like PAN Card / Passport / Driving License / Aadhaar Card, etc.) and send it to our RTA to their address mentioned hereinafter.
Concerned members whose shares are liable to be transferred to the Authority and holding shares in:
- Physical Forms may note that the Company would be issuing duplicate share certificate(s) in lieu of the original share certificate(s) held by them for the purpose of transfer of shares to the Authority as per the Rules and upon such issue, the original share certificate(s) which are registered in their name shall stand automatically cancelled and be deemed non-negotiable.
- Dematerialized Form may note that the Company shall inform the depository by way of corporate action for transfer of shares in favour of the Authority.
In case no valid claim has been made on or before May 25, 2017, the Company shall with a view to adhere with the requirements of the Rules transfer the shares to the Authority within the due date as per the procedure set out in the Rules.
No claim shall lie against the Company in respect of unclaimed dividend amount and shares transferred to the Authority pursuant to the Rules.
Procedure for claiming refund of shares and unclaimed dividend from the Authority i.e. after shares / unclaimed dividend are transferred by the Company
After transfer of shares by the Company, the Members may still claim refund of shares and unclaimed dividend from the Authority by making an application to the authority in Form IEPF-5 available on http://iepf.gov.in/IEPFA/corporates.html. The provisions of Companies Act, 2013 relating to IEPF, IEPF Rules and notifications are available on www.iepf.gov.in.
For any queries on the above matter, the members are requested to contact our RTA to their address mentioned hereunder.
Karvy Computershare Private Limited
Karvy Selenium Tower B,
Plot 31-32, Gachibowli, Financial District,
Hyderabad – 500 032
Toll Free No.: 1800-4258-998
Associate Vice President & Company Secretary
Sasken Technologies Limited
139/25, Ring Road, Domlur, Bengaluru – 560 071
+ 91 80 6694 3000
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