The Ministry of Corporate Affairs has issued Notification No. G.S.R. 352(E) dated May 10, 2012, notifying "Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with Companies) Rules, 2012". As per the Rules, the Companies are required to identify and upload the details of unclaimed amount, if any, as per Section 205C (2) of the Companies Act, 1956 ('the Act') on their website. Accordingly the details of unclaimed amount are given below.
In the Initial Public Offer (IPO) by the Company in 2007, the equity shares were allotted as per the allotment criteria and the excess application money/ application money for non-allotment cases were refunded by issuing refund orders. The unclaimed amount in the said Account has been transferred to Investor Education Protection Fund (IEPF) on/after December 18, 2014, as the same has remained unclaimed for a period of seven years. Please take note that hereafter no claim shall lie in respect of the same with the Company.
The Dividend declared and distributed by the Company to its shareholders which remains unclaimed gets accumulated with the Company. As per Section 205C of the Act, requires the Company to transfer dividend that has not been claimed for a period of seven years from the unpaid dividend account to the Investor Education and Protection Fund (IEPF). The shareholders who have not claimed their dividend are advised to do the same as once unclaimed dividend is transferred to IEPF, no claim shall lie in respect thereof with the Company. Accordingly, the detailed information is provided for the benefit of our Shareholders:
During FY2015-16, the Company had issued bonus shares in the ratio of 1:3 i.e. one (1) fully paid up Bonus equity share of Rs. 10/- each for every three (3) equity shares of Rs. 10/- each held in the Company. The Fractional shares of all eligible shareholders i.e. 4,384 shares arising out of bonus allotment were consolidated and sold off in the open market. The Company distributed net proceeds from the sale of such fractional shares in proportion to the entitlements among shareholders and following is the status of unclaimed balance appearing in the Bonus Fractional disbursement account.