Elecon Engineering Company Limited has informed the Exchange regarding 'Intimation to the shareholders relating to Transfer of Equity Shares to the IEPF'.
ELECON · price
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Elecon Engineering Company Limited has notified shareholders about the mandatory transfer of shares to the Investor Education and Protection Fund (IEPF). Shareholders who have not claimed dividends for seven consecutive years starting from FY 2018-2019 are required to claim their unpaid dividends by 5th October, 2026. If they fail to do so, their shares will be transferred to the IEPF Account as mandated under Section 124(6) of the Companies Act, 2013. The company has provided contact details of its Registrar and Share Transfer Agent, M/s. MUFG Intime India Private Limited, for claim submissions. Shareholders can still recover their shares later by filing e-Form No. IEPF-5 with the IEPF Authority.
Affected shareholders risk losing their shares if they do not claim unpaid dividends by the deadline. Shares transferred to IEPF can be reclaimed through a government process, but this involves additional paperwork and time.