Submission of letter sent to shareholders for proposed transfer of their unclaimed and unpaid dividend and eligible Equity Share to IEPF Authority.
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Swastika Investmart Ltd has issued a notice to eligible shareholders informing them about the proposed transfer of their unclaimed dividends and corresponding equity shares to the Investor Education and Protection Fund (IEPF) Authority. The shares belong to shareholders who have not claimed dividends for seven consecutive years starting from the final dividend declared for FY 2018-19. Shareholders have been given until 10th September 2026 to claim their dividends and prevent the transfer, after which the shares will be moved to the IEPF DEMAT Account by 04th October 2026. The transfer is being carried out as required under Section 124(5) and 124(6) of the Companies Act, 2013, read with the IEPF Rules, 2016.
Shareholders who fail to claim their dividends by 10th September 2026 will lose ownership of their shares, which will be transferred to the IEPF. Affected shareholders can still recover their shares later by applying via Form IEPF-5 on the IEPF website, but the process becomes more cumbersome. This is a routine regulatory compliance filing and is unlikely to have any direct impact on the stock price.