Tamilnad Mercantile Bank Limited has informed the Exchange about the Newspaper advertisement published regarding the proposed transfer of equity shares to Investor Education and Protection Fund
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Tamilnad Mercantile Bank has informed the stock exchanges about newspaper notices published in The Hindu (English and Tamil editions) regarding the proposed transfer of certain equity shares to the Investor Education and Protection Fund (IEPF) Account. This is being done under Section 124(6) of the Companies Act, 2013 read with the IEPF Rules, 2016, for shareholders who have not claimed dividends for seven consecutive years (with 2017-18 being the second consecutive year of unclaimed dividends). Shareholders have until July 30, 2025 to claim their dividends or update their KYC details to prevent the transfer. The bank's Registrar and Transfer Agent is MUFG Intime India Private Limited (formerly Linkin Time India Private Limited), based in Coimbatore. Once shares are transferred, shareholders can still claim them back by filing IEPF-5 on the MCA portal.
This is a routine compliance filing under SEBI LODR regulations and does not directly affect the stock price. Shareholders with unclaimed dividends for 7+ years should act before July 30, 2025 to prevent their shares from being transferred to the IEPF, though they retain the right to reclaim shares later by filing Form IEPF-5.