Effective Guide for Successful Recovery of Shares

Posted by Infiny Solution on May 23rd, 2023

The IEPF is a statutory body established by the Indian government to protect the interests of investors and promote investor education. When companies are unable to locate shareholders or when shareholders fail to claim their dividends for a specified period, the shares are transferred to the IEPF. The recovery of shares from IEPF involves a series of steps, including filing a claim by the rightful owner, providing the necessary documents and proofs, and complying with the prescribed procedures. Once the claim is verified and approved, the shares are returned to the rightful owner, enabling them to regain ownership and control over their shares. The recovery of shares from the IEPF ensures that the assets of investors are protected and effectively utilized while promoting transparency and accountability in the capital market.

Step-by-Step Guide on the Recovery of Shares:

1. Contact the Registrar and Transfer Agent (RTA) of the company where you hold shares. Provide them with the necessary details such as your name, address, and demat account number.
2. In case of lost shares, file a police complaint and obtain a copy of the FIR.
3. Submit an application for the issuance of duplicate shares to the RTA. The application must include all relevant details such as the number of shares lost, the folio number, and the name of the company.
4. Attach the FIR copy and an indemnity bond with the application. The indemnity bond should be duly signed and notarized.
5. Pay the required fees for the issuance of duplicate shares.
6. Once the RTA receives your application and verifies the details, they will issue duplicate share certificates.
7. In case of unclaimed shares, check the IEPF website to see if your shares have been transferred to the fund.
8. If your shares are in the IEPF, submit a claim form along with the necessary documentation to the IEPF.
9. The IEPF will verify your claim and transfer the shares to your demat account or issue physical share certificates.

It is essential to keep track of your investments and maintain proper documentation to avoid the loss of shares. In case of any issues, it is recommended to seek professional help from a trusted financial advisor or a specialized service provider.

Source: https://infinysolutions.com/step-by-step-guide-for-recovery-of-shares/