Introduction
One of India’s top manufacturers of aluminum and copper is Hindalco Industries Limited. The business was established in 1958 and has since emerged as a significant force in the Indian industrial sector. Hindalco Industries Limited’s parent business is the Aditya Birla Group, one of India’s largest corporations. The company’s market valuation as of 2021 is above Rs 70,000 crore.
The issue of missing shares is one that shareholders in Hindalco Industries Limited deal with. This occurs when stockholders lose track of their holdings or when shares are misplaced for various reasons. In these situations, the shares are given to the Ministry of Corporate Affairs’ Investor Education and Protection Fund (IEPF), which is in charge of managing them. This blog post will go over how shareholders may get their lost Hindalco Industries Limited shares back from the IEPF.
Understanding the IEPF
Understanding the IEPF’s purpose and workings is crucial before we get into the process of restoring lost shares. In order to safeguard investor interests and advance investor education, the Indian government established the Investor Education and Protection Fund (IEPF) in 2016. The Ministry of Corporate Affairs oversees the fund.
Receiving unclaimed dividends, matured deposits, and other payments owed to investors is one of the IEPF’s main responsibilities. This includes shares that have been given to the IEPF as a result of dividends not being received or shares not being claimed. Investors have the choice to reclaim their shares once they have been transferred to the IEPF.
Steps to Recover Lost Shares of Hindalco Industries Limited from the IEPF
You can take the following actions to get your lost Hindalco Industries Limited shares back if they were transferred to the IEPF:
Step 1: Check your Shareholding
Checking your shareholding is the first step in retrieving lost shares. You can accomplish this by going to the websites of the Central Depository Services (India) Limited (CDSL) or the National Securities Depository Limited (NSDL). These two depositories are in charge of maintaining electronic share records in India.
You must provide both your demat account number and PAN (Permanent Account Number) in order to verify your ownership. You will be able to see your holdings in Hindalco Industries Limited once you have input this information.
Step 2: Check the IEPF Database
If any of your shares have been moved to the fund, you should check the IEPF database once you have verified your shareholding. By going to the IEPF website and inputting your PAN or folio number, you may do this.
You must take the below actions to recover your shares if they have been given to the IEPF.
Step 3: Prepare the Required Documents
You will need to gather the necessary paperwork in order to recover your lost shares from the IEPF.
These documents include:
- another duplicate of your PAN card.
- a duplicate of your Aadhaar card or any recognised photo ID
- a duplicate of your cheque book or bank passbook
- a copy of the statement from your demat account
- If you have one, a copy of your share certificate
- A copy of the transfer deed, if one is available
Step 4: Fill in the IEPF Form
You must complete the IEPF Form after preparing the necessary documentation. The IEPF website offers a download for this form. Your personal information, shareholding information, and bank information must be entered.
Step 5: Submit the Form
You must send the completed IEPF Form to the appropriate authorities after attaching all necessary supporting documentation. The form can be submitted online or offline.
To submit the form online, you must visit the IEPF website and follow the instructions there. You must upload the completed form together with the necessary paperwork.
You must print the form and affix the necessary papers in order to submit it offline. The application form and any other accompanying documents can then be forwarded to the relevant authorities.
Step 6: Wait for Verification and Approval
You will have to wait for the verification and approval procedure to be finished after submitting the form and the supporting papers. The relevant authorities will confirm the information you supplied and examine the papers for legitimacy.
The authority will approve your claim and send the shares back to your demat account when the verification procedure is finished. Depending on the workload of the authority and the intricacy of your case, this procedure might take a few weeks to a few months.
Conclusion
It can be difficult and time-consuming to recover lost shares from the IEPF, but it is crucial for investors to get what is rightly theirs. The techniques indicated in this blog post can be used to retrieve lost shares of Hindalco Industries Limited that have been transferred to the IEPF.
It’s crucial to keep in mind that waiting patiently and persistently to recover lost shares is a necessary step. You might need to get in touch with the relevant authority again and, if necessary, present more documentation. But if you persist, you can get your shares back and profit from your investment in Hindalco Industries Limited.