Star Paper Mills Limited has informed the Exchange regarding '' shares transferred to IEPF on which dividends were unclaimed and unpaid for consecutive 7 years
STARPAPER · price
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Star Paper Mills Limited has informed the stock exchange that certain shares have been transferred to the Investor Education and Protection Fund (IEPF) because the dividends on those shares remained unclaimed and unpaid for seven consecutive years. As per Indian company law, shares whose dividend has not been claimed for 7 straight years must be moved to the IEPF, a government-run fund. The company has likely notified affected shareholders before the transfer. Shareholders can still reclaim these shares by filing an application with the IEPF authority along with the required documents.
This is a routine regulatory compliance announcement and is unlikely to affect the stock price. However, shareholders of Star Paper Mills who have not claimed their dividends for 7 years or more should check if their shares have been moved to IEPF and take action to recover them, or they risk losing ownership permanently.