The Karnataka Bank Limited has informed the Exchange regarding 'Newspaper publication on notice sent to the shareholders'.
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Awaiting price reaction for this filing.
Karnataka Bank has published a notice in Financial Express (English) and Hosadigantha (Kannada) on 18.05.2025 informing shareholders about the proposed transfer of their shares to the Investor Education and Protection Fund (IEPF). Under IEPF Rules 2016 read with Section 124(6) of the Companies Act 2013, shares whose dividends have remained unclaimed for seven consecutive years are liable to be transferred to the IEPF. The bank had already sent individual letters dated 12.05.2025 to the concerned shareholders whose shares are slated for transfer in FY 2025-26. Shareholders have been asked to claim their unclaimed dividends before 16.08.2025, failing which the bank will dematerialize physical shares and transfer them to the IEPF. Details of affected shareholders are available on the bank's website at karnatakabank.com/share-search.
This is a routine regulatory compliance filing. Shareholders who have not claimed dividends for 7+ years risk losing their shares to the IEPF if they do not act before 16.08.2025. No material impact on the stock price is expected from this disclosure, though it serves as an important reminder for investors to check and claim any unclaimed dividends.