Submission of Copy of Newspaper advertisement for mandatory transfer of Equity shares on which dividend is Unclaimed for seven consecutive years to Investor Education Protection Fund (IEPF) Account
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Awaiting price reaction for this filing.
Inani Marbles & Industries Ltd has submitted a copy of a newspaper advertisement to BSE as required under SEBI and Companies Act regulations. The advertisement notifies shareholders that equity shares on which dividends have remained unclaimed for seven consecutive years will be mandatorily transferred to the Investor Education and Protection Fund (IEPF) Authority. This is a routine compliance step that publicly informs affected shareholders before the actual transfer takes place. Shareholders who have not claimed dividends for the last 7 years are likely to be impacted by this action.
Shareholders who have not claimed their dividends for seven or more years risk losing ownership of those shares, which will be moved to the IEPF. Such shareholders should contact the company's Registrar/Share Transfer Agent immediately to claim their dividends and prevent the transfer. This is a routine regulatory filing and is unlikely to have any direct impact on the company's stock price.