The Jammu & Kashmir Bank Limited has informed the Exchange about Letter for Claiming Unclaimed Dividend(S) and Compliance with SEBI/IEPF requirements
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Jammu & Kashmir Bank has sent individual reminder letters to shareholders who have not encashed their dividends for FY 2022-23 and FY 2023-24. The bank is urging these shareholders to update their KYC details (PAN, Aadhaar, bank account, nomination, mobile number, specimen signature) with the Registrar and Share Transfer Agent, KFin Technologies Limited, or their Depository Participant. Under Section 124(6) of the Companies Act, 2013, unclaimed dividends along with corresponding shares will be transferred to the Investor Education and Protection Fund (IEPF) after 7 consecutive years. Per SEBI's May 2024 Master Circular, shareholders with incomplete KYC can only receive future dividend payments electronically. Shareholders need to submit forms ISR-1, ISR-2, SH-13, or ISR-3 along with self-attested PAN and Aadhaar copies to claim their dividends.
This is a routine regulatory compliance filing with no material impact on the bank's business or stock price. Shareholders with unclaimed dividends should act promptly to update KYC details and claim amounts before they are permanently transferred to the IEPF after the 7-year period expires.