Reminder for transfer of shares and unclaimed dividend to Investor Education Protection Fund ("IEPF")
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Novartis India has sent reminders to shareholders whose dividends have remained unclaimed for seven or more consecutive years (from FY 2017-18 onwards). These shareholders have until September 1, 2025 to claim their unpaid dividends, failing which their equity shares will be transferred to the IEPF Authority's Demat Account as per Section 124(6) of the Companies Act, 2013. The reminder letters were dispatched via Speed Post on May 29, 2025, and newspaper advertisements were published on May 30, 2025. Shareholders can contact the Company Secretary Chandni Maru or Registrar MUFG Intime India Private Limited to claim dividends and prevent the share transfer.
This is a routine regulatory compliance filing with no material impact on the stock price. Shareholders who haven't claimed dividends for 7+ years must act before September 1, 2025 to avoid losing their shares to the IEPF Authority, though they can later reclaim them from IEPF by filing prescribed forms.