A large number of shares and unclaimed dividends have been transferred by many companies to the Investor Education and Protection Fund (IEPF) Account maintained by the IEPF Authority. This has happened pursuant to a change in the Companies Act 2013. Our experts take up the matter and assist investors without making them run from pillar to post struggling to prepare documents.
IEPF Form 5 is the last stage of claiming shares from the IEPF Authority. However, every company and registrar first directs the investor in filing IEPF Form 5 and sending the same to them. IEPFClaim assists in fulfilling all requirements to enable an investor fill IEPF Form 5 by undertaking change of address, updation of signatures, issue of duplicate share formalities in company’s records. The investor needs to understand the reason for not claiming the dividends for a continuous period of seven years. Once KYC is undertaken and signatures are updated in company’s records, an Entitlement Letter is issued by the company on the basis of which IEPF Form 5 can be filed.
SEBI has by a recent notification made the physical transfer of shares ineligible w.e.f. 1st April, 2019. As such, companies are urging all holders of securities in physical form to dematerialise their shares. Dematerialisation is the process by which a physical share is converted into digital format. An investor who wants to dematerialize the share certificate needs to open a demat account with a DP (Depository Participant). The investor has to deface and surrender the certificates to convert them into electronic form which in turn is sent to his demat account. Process can be verified electronically via confirmation request. Demat is safe, secure and convenient. It also reduces the risk of mutilation, loss and theft. IEPFClaim helps you to demat by connecting you to reliable broking houses.
A share certificate is a signed document on behalf of a company that serves as legal proof of ownership of the number of shares indicated. Being a paper, it is prone to · Mutilation · Theft · Lost in transit · Misuse For an investor, it will be a great loss. Don’t worry, IEPFClaim knows how to tackle these situations the fast way.
IEPFClaim has experts in case you changed your residence and forgot to update the same in the company’s records, or in case of a signature mismatch. They can help you to keep the track record and help to get back your somehow-lost investment.
As per Section 124 of the Companies Act, 2013, all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more shall be transferred by the organization in the name of Investor Education and Protection Fund (IEPF). These are the forgotten shares/investments which people tend to forget with time, usually in the case of senior citizens/change of address/lost shares/death of shareholder etc.Recovering the unclaimed shares is a very tedious and cumbersome activity. It is nearly impossible for a layman to do unexpected amount of communication and legal paperwork. IEPFClaim has experts who will help you to get the work done and manage all the required documents.
A probated will assumes significance in the sense that it establishes the legal character of the executor as the person responsible for implementing the contents of the will. The probate process is the first step towards resolving claims and distributing the amount of the deceased. There are also some cases in which a will/testament has not been executed and hence the amount becomes an unclaimed property
Most people leave behind a will; however, there are some who don’t. In legal terms, this means that the person has died intestate. In such instances, a Letter of Administration needs to be granted by the competent court to an administrator. The administrator will then be the person responsible for administering the belongings of the deceased according to the succession laws of the land. We can help you secure the letter of administration for this process. Usually, the amount is distributed equally among what are classified as Class-I heirs, or the deceased’s close relatives. The children should not be minors. If they are, then their share will be paid by their mother after they turn 18 years of age.
A will is a legal document which explicitly states how the person wishes to divide their property after death. If the deceased has died intestate (without writing a will), leaving behind debt and securities, then a document called succession certificate is needed for collecting debts and securities due to her/him.This certificate also indemnifies the debtors regarding all the payments made or the dealings done in good faith, from the holder of the certificate. This is precisely the reason many people concerned with these types of dealings ask for a succession certificate before beginning the proceedings for settling debts of the deceased with the claimant.A succession certificate is valid throughout India
The rules of the Bar Council of India do not permit advertisement or solicitation by Advocates in any form or manner. The purpose of this website is only to provide information and a platform to encourage the protection of interest of investors. We do not in any manner whatsoever it is offer legal/financial or any kind of investment advice or seek solicitation through this website. The information provided under this website is solely available at your request for information purposes only. It should not be interpreted as soliciting or advertisement.
Garg Law Chambers are not in any way related to or having any association with the IEPF Authority of the Government. We are also not liable for any consequence of an action taken by the user relying on material / information provided on this website. In cases where the user has any legal/financial issues, he/she in all cases must seek independent and separate legal advice.
By entering this website, you confirm and acknowledge that you have voluntarily sought the information relating to and/or posted by Garg Law Chambers and there has been no solicitation / advertisement / inducement by Garg Law Chambers and/or its partners and/or its members.
The contents of this website are the intellectual property only of Garg Law Chambers.