HEG Limited has informed the Exchange 'Intimation with respect to transfer of equity shares under Section 124(6) of the Companies Act, 2013 to the Investor Education and Protection Fund (IEPF) Authority.
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HEG Limited has informed the stock exchange about transferring certain equity shares to the IEPF Authority as required under Section 124(6) of the Companies Act, 2013. This provision applies to shares where dividends have remained unclaimed by shareholders for seven or more consecutive years. Such shares, along with the unpaid dividends, are moved to the IEPF, a government-run fund managed by the Ministry of Corporate Affairs. This is a routine regulatory compliance intimation and not a new corporate action. Shareholders whose shares have been transferred can still claim them back by filing an application with IEPF after following the prescribed procedure.
No material impact on the company's operations or stock price. Shareholders who have not claimed dividends for 7+ years should check if their shares have been moved to IEPF and take steps to reclaim them, as the shares are not lost permanently but require a formal claim process.