Sanofi India Ltd (BSE: 500674) has published a notice in newspapers regarding the transfer of unclaimed shares and dividends to the Investor Education and Protection Fund (IEPF). This announcement, made in compliance with Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR), informs shareholders about the impending transfer of shares and dividends that have remained unclaimed for seven consecutive years.
Key Details:
Deadline: Shareholders have until June 14, 2025, to claim their unclaimed shares and dividends.
Transfer Process: If no valid claim is received by the deadline, the company will transfer the shares to the IEPF account as per the prescribed procedure.
Consequences: Once transferred to IEPF, all benefits on such shares will be issued/transferred in favor of the IEPF Authority.
Claim Procedure: Shareholders can claim refunds from the IEPF Authority by filing Form IEPF-5 and submitting required documents.
Importance of IEPF:
The IEPF, established under Section 125 of the Companies Act, 2013, aims to protect investors' interests and promote awareness. It serves as a repository for unclaimed amounts belonging to investors, which are utilized for various purposes as provided under the Act.
Shareholder Action Required:
Shareholders are strongly advised to verify their records and claim any unclaimed dividends or shares before the transfer date to avoid losing their rights over these assets.
The company has provided detailed instructions for e-voting and the claim process in the Postal Ballot Notice.
This move by Sanofi India Ltd aligns with the broader regulatory framework aimed at safeguarding investor interests and ensuring proper utilization of unclaimed financial assets.
Source: Business Standard