Section 124 of the Companies Act, 2013, read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“the Rules”), as amended, mandate the companies to transfer the dividend that has remained unclaimed/un-encashed for a period of seven years from the unpaid dividend account to the Investor Education and Protection Fund (IEPF). Further, the Rules also mandate that the shares on which dividend has not been claimed or encashed for seven consecutive years or more be transferred to the IEPF.
The Shareholders may input the following to check the unclaimed dividend:
1. Shares held in Physical mode - Folio No. (Eg: ITL000000)
2. Shares held in Dematerialized Mode:
NSDL - 6 digit/character DP ID and 8 digit client ID (Eg: IN30000010000000)
CDSL - 16 digit client ID (Eg: 1200000000002000)