Shares of AXIS Bank LTD. are floating at a price of more than Rs. 700 per share in the market as of Feb 2021. The bank is one of India’s largest private sector banks. With business growing continuously, AXIS bank has taken giant strides in growth over the past two decades. Now, since the inception of IEPF, the bank has started depositing a huge chunk of money to it as it has a lot of dormant shares. 

To those who do have really old shares (count 25 years) of AXIS bank, you have a permanent reason to smile as these shares have now increased to unfathomable values.  In simple words..finding old shares of AXIS and raising a claim for them from IEPF can make you rich instantly. To get answers to all your queries like what is IEPF and how old dormant shares of AXIS are going to make you rich in a short span, stay with us till the end of this piece. The huge no. of shares and dividends transferred by AXIS bank to the IEPF might make some people look through their investment history to find if they have any unclaimed shares left of AXIS or not.

How AXIS Bank Limited Has Grown?

AXIS Bank Limited may be a depository financial institution. The Bank is engaged in providing a variety of banking and financial services, including commercial banking, retail banking, project and company finance, capital finance, insurance, risk capital, and personal equity, investment banking, broking, and treasury products and services. The Bank’s business segments are Retail banking, Wholesale Banking, Treasury, Other banking, life assurance, General insurance et al. . it’s a network of roughly 18,210 branches and automatic teller machines (ATMs). The Bank has approximately 110 Touch Banking branches across over 30 cities. Its international banking is concentrated on providing solutions for the international banking requirements of its Indian corporate clients and leveraging economic corridors between India and therefore the remainder of the planet. The Bank caters to the financial needs of girls entrepreneurs through its Self-Help Group (SHG) program as a neighborhood of its microfinance initiatives.

AXIS Bank is one of India’s finest and leading private-sector financial institutions and was among the firsts to receive approval from the Reserve Bank of India (RBI) to line up a personal sector bank in 1994. The AXIS Bank features a banking network of over 5,480 branches and 14,530+ ATMs spread across 2,800+ cities in the country. AXIS Bank Limited is listed as a private company and has maintained a steady growth rate in the past two decades. It offers various banking and financial services that span commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services in the segments including Treasury, Wholesale banking, Retail banking,  and Other banking related business. Its Treasury segment primarily comprises net interest earnings from the Bank’s diversified investment portfolio, market lending and borrowings, profits or losses associated with its investment operations, and trading in exchange and derivative contracts. The bank’s Retail Banking segment serves retail customers through its vast network of operational branches across the country and other alternative delivery channels. The bank has brought many modern banking practices into play and boasts an impressive lineup of financial products.

Over its years of operations, the share of the AXIS bank limited has shown tremendous growth leading to the company splitting its stocks twice in the last decade. In this blog, we will understand how the values of a small investment in AXIS could be worth millions as per today’s rates and what is the ideal way for the investor to recover such an amount.

Calculation

• Suppose an investor bought 600 shares of AXIS Bank Ltd. registered under his name in November 1995 at Rs. 4.98.

Now the overall value of the investment is 600 shares x Rs. 4.98 = Rs. 2988.

• Now, the prices of AXIS shares have kept on increasing since 1995 and the company had to announce a stock split on two separate occasions to let the small retail investor gain access to the company’s shares.

• Due to the first stock split in 2011, which was in the ratio 5:1 made the total no. of shares equal to 3000. Each share had an equal value which is 1/5 of the total value of a single stock. This meant that the net value of ownership remained constant and only the no. of shares increased leading to a corresponding decrease in the price of shares in proportion.
• The Bank again split its stock in a ratio of 2:1 to bring the no. of shares to 6000.
• Now the total price of investment as per the rate of February 2021 becomes:

6000 shares x Rs. 734.40 = Rs. 44, 06, 400 (Forty-Four Lakhs Six Thousand and Four Hundred).

Bonus History:

Stock Split:

The above amount is an increase of approximately 514899% which is a humongous increase in just over 25 years. This is enough to show the investors why is it a good idea to go for the recovery of shares of AXIS bank limited?

As you can see, from the above calculations that the AXIS bank shares from two or three decades ago could fetch a huge amount to their investors. The bank has also provided its investors huge dividends and thus, has been a preferred stock for many investors. If we add the returns made through dividends to the amount calculated in the previous section then the corresponding return on the investment will easily cross the mark of one crore rupees. These huge figures should be enough to indicate that old shares of AXIS are nothing but a hidden treasure. In the next sections, we have given the data of dividends released by the company in the last two decades from where investors could easily calculate the net dividends offered by the company. We will also understand about IEPF and how to claim old shares of AXIS from it.

Dividend History of AXIS Bank LTD.

The following table will give a detailed account of dividends released by AXIS since 1997. One can simply study the table and do a detailed analysis of how much dividend any investment after 1997 would have generated.

As per the annual report of the AXIS bank in 2018-19 the bank has transferred a whopping 414423 shares to the IEPF fund operating under the Ministry of Corporate Affairs as per the provisions of IEPF Rules 2016. As per the report, the shares were transferred to the IEPF bearing Demat account no 12047200 13676780 opened with Central Depository Services Limited (CDSL) with a Depository Participant in SBI CAP Securities Ltd. as per the said provisions of the IEPF Authority rules all the benefits and returns gained for the shares will be transferred to the IEPF. The report also stated that the IEPF has transferred a total of 4685 shares for claims associated with old AXIS shares by 31 march 2019.

Under the IEPF rules, the company is obliged to release the details of shareholders whose shares have been transferred to the authority under the rules. The company releases the dates of transfer for the dividends and also the last date to claim them before they get deposited into the IEPF fund. One can the following table to get the details for the subsequent financial years and the last date to claim funds before they get transferred to IEPF.

Dates for Unclaimed Dividend Transfer to IEPF

Unclaimed dividends declared by the AXIS banks for the fiscal year 2013 were transferred to the IEPF account on June 26, 2020. Similarly, for the financial year 2014, the associated dividends will be transferred this year on June 24. If the shareholders want to claim their money before the deadline ends then they must reach the nodal officer or transfer agent of the bank to claim the amount from their special account made for unclaimed dividends.  The shareholders can reach the nodal officer with the requisite set of documents to prove the ownership of shares and the dividends. Here are the details of the Nodal officer of the company.

Mr. Dhanjit Thaivalappil (Nodal Officer)

Tel: +91-022-3976 0012 / 0003 / 0016

Email: Shareholder.grievances@AXISbank.com 

An investor can check the status of their unclaimed dividend of AXIS bank LTD. and associated returns on the following link:

Investor Education and Protection Fund – An Overview

The Government of India has set a target of making India a 5 trillion dollar economy before 2024 and for achieving this target it has continued to come up with reforms in the financial and other economic sectors. Be it the IBC 2016 or banking reforms the government has been taking steps in the direction to make the Indian financial sector more formal and organized. The introduction of the IEPF or Investor Education and Protection Fund in 2016 was also one such major reformist step. From the earlier time of Independence, the Indian stock market had no regulations or a statutory body that could oversee the issue of unclaimed dividends.

In 2016, the Govt. founded the IEPF authority and came up with the regulations associated with it. The regulations were read with the Companies act 2013 and thus made it mandatory for every listed company to follow them. Here are basic changes suggested by the IEPF rules and the subsequent amendments related to the transfer of unclaimed dividends to the IEPF account.

• An investor must claim his/her dividends from the company within 30 days of its declaration.
• The companies were asked to create a separate unclaimed dividend account where the dividends need to be transferred in case they have not been claimed by the investors within 30 days.
• If the investor wants to claim the amount from the special account after 30 days then he/she must reach the company’s transfer officer or nodal officer with the prescribed set of documents to raise the claim.
• The company should inform the shareholders that their dividends have been transferred to the unclaimed dividend accounts and they must claim it before it gets transferred to the IEPF.
• The company will be obliged to publish the list of investors whose dividends have been transferred to the unclaimed dividend account.
• The company should communicate the information regarding dividend transfers individually to the shareholders via email and letters.
• If the investor fails to claim the dividends from the company’s unclaimed dividend account for 7 years after the transfer then the dividends must be transferred to IEPF.
• The company should release the list of shareholders every year whose shares have been transferred to the IEPF.
• After seven years, the shareholder must make the application to IEPF to get the dividends.

With these rules, MCA aimed to streamline the process of claiming the dividends which are dormant. The whole process became more regularised and transparent. The process to claim dividends from IEPF is also fairly organized and goes through a lot of scrutinies to ensure that the dividends go into the right hands and are free of any fraudulent claim.

Process to Claim Dividends of AXIS Bank from IEPF

The process to claim dividends from IEPF might sound a bit complex as there are a lot of documents and know-how involved. Here we have tried to explain the process in simple steps so that even a layman can understand the basics of the IEPF claim process. Here are the basic steps to claim dividends from IEPF.

1. The shareholder is advised to get in contact with the company’s nodal officer and get all the details regarding his owned shares and the related claim process.  The nodal office will also give the investor the list of documents that need to be submitted with the claim form.
2. The shareholder then needs to visit the website of IEPF and file the IEPF claim form on it by submitting his personal details and details regarding his/her ownership of shares.
3. After filing the form, the claimant must take a printout of the form and compile all the copies of necessary documents as prescribed by the IEPF website and Nodal officer.
4. After compilation, the claimant must send the file to the Nodal officer who will check the form and documents to investigate the ownership of the claimant on the shares and verify the details as per the documents submitted.
5. The nodal officer will create a claim verification report based on the claim file and send it within 15 days of receiving it to the IEPF Authority’s regional fund manager.
6. The fund manager after receiving the file will scrutinize the claim verification report along with the application form and the copies of other documents.
7. After thorough verification, the fund manager may take any of the following three actions.
8. He can ask for some additional documents from the claimant which should be sent by him/her through the nodal officer.
9. He may reject the application due to some error in the application or missing documents that were not furnished on time.
10. He can sanction the claimed amount after successful scrutinization of the claim file.

Necessity of Legal Help to Claim AXIS’s Old Shares

You might have noticed in the previous sections that thorough scrutiny of the claim form is conducted by Nodal officers as well as the IEPF authority. This is done to ensure that there is zero chance of any fraudulent claim. The ownership documents of shares are thoroughly scrutinized and background checked. Also, the application form is verified thoroughly and even small errors need to be rectified in time or failure to do so could lead to cancellation of a claim.

All these reasons lead to making the claim process a bit time-consuming and tedious for a common investor. To save yourself from the hassle of filing and getting the claim approved by the authority, a shareholder must hire a reputed legal consultancy firm. These firms specialize in the filing of IEPF forms and thus chances of any error in your application will be reduced to none. Also, most of these firms offer end-to-end support and liaising with the nodal officer and IEPF authority in case of any missing documents or other issues with the application. This saves a lot of hassle for the investor. The final and most important help comes in form of getting ownership approval in case the shares are inherited from an elder relative who forgot to name an heir to the shares. The legal firms help the client in proving ownership and legitimate right over the shares so that the claim process is easy.

To conclude…

All the above reasons prove that recovery of AXIS shares is indeed a profitable option for the investors and they must look into the investment portfolio of their Fathers and Grand-Fathers to look for any dormant shares of AXIS Bank LTD. The investors can simply hire a legal consultancy firm and hand over the job of claiming money/ dividends from IEPF on behalf of the claimant. This will not only make the job easier but also decrease the turnaround time for the overall claim process.

All of this might as well take a while if you try to complete all the processes on your own. Also with the rising scrutiny when it comes to shares owned by the heirs has made it a bit difficult to claim ownership for the kin of the investors. Therefore, always have a knowledgeable attorney by your side while filing the claims for such investments to stay away from any such issue.

The post Recovery of Unclaimed Dividends from IEPF of AXIS Bank LTD. appeared first on MUDS.

Shares of HDFC Bank LTD. are floating at a price of more than Rs. 1500 per share in the market as of 02 Feb 2021. The bank is India’s largest private sector bank. With business growing continuously, HDFC bank has taken giant strides in growth over the past two decades. Now, since the inception of IEPF, the bank has started depositing a huge chunk of money to it as it has a lot of dormant shares. 

You might be curious if you don’t know what IEPF is… 

The huge no. of shares and dividends transferred by HDFC bank to the IEPF might make some people look through their investment history to find if they have any unclaimed shares left of HDFC or not. To those who do have really old shares (count 25 years) of HDFC bank, you have a permanent reason to smile as these shares have now increased to unfathomable values.  In simple words..finding old shares of HDFC and raising a claim for them from IEPF can make you rich instantly. To get answers to all your queries like what is IEPF and how old dormant shares of HDFC are going to make you rich in a short span, stay with us till the end of this piece.

How HDFC Bank Limited Has Grown?

HDFC Bank is one of India’s finest and leading private-sector financial institutions and was among the firsts to receive approval from the Reserve Bank of India (RBI) to line up a personal sector bank in 1994. The HDFC Bank features a banking network of over 5,480 branches and 14,530+ ATMs spread across 2,800+ cities in the country. HDFC Bank Limited is listed as a private company and has maintained a steady growth rate in the past two decades. It offers various banking and financial services that span commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services in the segments including Treasury, Wholesale banking, Retail banking,  and Other banking related business. Its Treasury segment primarily comprises net interest earnings from the Bank’s diversified investment portfolio, market lending and borrowings, profits or losses associated with its investment operations, and trading in exchange and derivative contracts. The bank’s Retail Banking segment serves retail customers through its vast network of operational branches across the country and other alternative delivery channels. The bank has brought many modern banking practices into play and boasts an impressive lineup of financial products.

Over its years of operations, the share of the HDFC bank limited has shown tremendous growth leading to the company splitting its stocks twice in the last decade. In this blog, we will understand how the values of a small investment in HDFC could be worth millions as per today’s rates and what is the ideal way for the investor to recover such an amount.

Calculation

• Suppose an investor bought 600 shares of HDFC Bank Ltd. registered under his name in November 1995 at Rs. 2.98.

Now the overall value of the investment is 600 shares x Rs. 2.98 = Rs. 1788.

• Now, the prices of HDFC shares have kept on increasing since 1995 and the company had to announce a stock split on two separate occasions to let the small retail investor gain access to the company’s shares.

Source: https://economictimes.indiatimes.com/hdfc-bank-ltd/infocompanysplits/companyid-9195.cms

• Due to the first stock split in 2011, which was in the ratio 5:1 made the total no. of shares equal to 3000. Each share had an equal value which is 1/5 of the total value of a single stock. This meant that the net value of ownership remained constant and only the no. of shares increased leading to a corresponding decrease in the price of shares in proportion.
• The Bank again split its stock in a ratio of 2:1 to bring the no. of shares to 6000.
• Now the total price of investment as per the rate of February 2021 becomes:

6000 shares x Rs. 1,534.40 = Rs. 92, 06, 400 (Ninety Two Lakhs Six Thousand and Four Hundred).

The above amount is an increase of approximately 514899% which is a humongous increase in just over 25 years. This is enough to show the investors why is it a good idea to go for the recovery of shares of HDFC bank limited?

P.S. Information for the above calculations has been sourced from the following links: https://in.investing.com/equities/hdfc-bank-ltd-historical-data?end_date=1614549689&st_date=602101800&interval_sec=monthly

https://economictimes.indiatimes.com/hdfc-bank-ltd/infocompanysplits/companyid-9195.cms

As you can see, from the above calculations that the HDFC bank shares from two or three decades ago could fetch a huge amount to their investors. The bank has also provided its investors huge dividends and thus, has been a preferred stock for many investors. If we add the returns made through dividends to the amount calculated in the previous section then the corresponding return on the investment will easily cross the mark of one crore rupees. These huge figures should be enough to indicate that old shares of HDFC are nothing but a hidden treasure. In the next sections, we have given the data of dividends released by the company in the last two decades from where investors could easily calculate the net dividends offered by the company. We will also understand about IEPF and how to claim old shares of HDFC from it.

Dividend History of HDFC Bank LTD.

The following table will give a detailed account of dividends released by HDFC since 1997. One can simply study the table and do a detailed analysis of how much dividend any investment after 1997 would have generated.

Dividends and Shares of HDFC Bank Ltd.  

Data of dividends released by HDFC banks in recent years.

As per the annual report of the HDFC bank in 2018-19 the bank has transferred a whopping 414423 shares to the IEPF fund operating under the Ministry of Corporate Affairs as per the provisions of IEPF Rules 2016. As per the report, the shares were transferred to the IEPF bearing Demat account no 12047200 13676780 opened with Central Depository Services Limited (CDSL) with a Depository Participant in SBI CAP Securities Ltd. as per the said provisions of the IEPF Authority rules all the benefits and returns gained for the shares will be transferred to the IEPF. The report also stated that the IEPF has transferred a total of 4685 shares for claims associated with old HDFC shares by 31 march 2019.

Under the IEPF rules, the company is obliged to release the details of shareholders whose shares have been transferred to the authority under the rules. The company releases the dates of transfer for the dividends and also the last date to claim them before they get deposited into the IEPF fund. One can the following table to get the details for the subsequent financial years and the last date to claim funds before they get transferred to IEPF.

Dates for Unclaimed Dividend Transfer to IEPF

Source: https://v1.hdfcbank.com/htdocs/common/pdf/corporate/Annual_Report_2018-19.pdf

Unclaimed dividends declared by the HDFC banks for the fiscal year 2013 were transferred to the IEPF account on June 26, 2020. Similarly, for the financial year 2014, the associated dividends will be transferred this year on June 24. If the shareholders want to claim their money before the deadline ends then they must reach the nodal officer or transfer agent of the bank to claim the amount from their special account made for unclaimed dividends.  The shareholders can reach the nodal officer with the requisite set of documents to prove the ownership of shares and the dividends. Here are the details of the Nodal officer of the company.

Mr. Dhanjit Thaivalappil (Nodal Officer)

Tel: +91-022-3976 0012 / 0003 / 0016

Email: Shareholder.grievances@hdfcbank.com 

An investor can check the status of their unclaimed dividend of HDFC bank LTD. and associated returns on the following link:

https://v1.hdfcbank.com/aboutus/unclaimed_dividend.htm

Investor Education and Protection Fund – An Overview

The Government of India has set a target of making India a 5 trillion dollar economy before 2024 and for achieving this target it has continued to come up with reforms in the financial and other economic sectors. Be it the IBC 2016 or banking reforms the government has been taking steps in the direction to make the Indian financial sector more formal and organized. The introduction of the IEPF or Investor Education and Protection Fund in 2016 was also one such major reformist step. From the earlier time of Independence, the Indian stock market had no regulations or a statutory body that could oversee the issue of unclaimed dividends.

In 2016, the Govt. founded the IEPF authority and came up with the regulations associated with it. The regulations were read with the Companies act 2013 and thus made it mandatory for every listed company to follow them. Here are basic changes suggested by the IEPF rules and the subsequent amendments related to the transfer of unclaimed dividends to the IEPF account.

• An investor must claim his/her dividends from the company within 30 days of its declaration.
• The companies were asked to create a separate unclaimed dividend account where the dividends need to be transferred in case they have not been claimed by the investors within 30 days.
• If the investor wants to claim the amount from the special account after 30 days then he/she must reach the company’s transfer officer or nodal officer with the prescribed set of documents to raise the claim.
• The company should inform the shareholders that their dividends have been transferred to the unclaimed dividend accounts and they must claim it before it gets transferred to the IEPF.
• The company will be obliged to publish the list of investors whose dividends have been transferred to the unclaimed dividend account.
• The company should communicate the information regarding dividend transfers individually to the shareholders via email and letters.
• If the investor fails to claim the dividends from the company’s unclaimed dividend account for 7 years after the transfer then the dividends must be transferred to IEPF.
• The company should release the list of shareholders every year whose shares have been transferred to the IEPF.
• After seven years, the shareholder must make the application to IEPF to get the dividends.

With these rules, MCA aimed to streamline the process of claiming the dividends which are dormant. The whole process became more regularised and transparent. The process to claim dividends from IEPF is also fairly organized and goes through a lot of scrutinies to ensure that the dividends go into the right hands and are free of any fraudulent claim.

Process to recover Unclaimed Dividends of HDFC Bank from IEPF

The process to claim dividends from IEPF might sound a bit complex as there are a lot of documents and know-how involved. Here we have tried to explain the process in simple steps so that even a layman can understand the basics of the IEPF claim process. Here are the basic steps to claim dividends from IEPF.

1. The shareholder is advised to get in contact with the company’s nodal officer and get all the details regarding his owned shares and the related claim process.  The nodal office will also give the investor the list of documents that need to be submitted with the claim form.
2. The shareholder then needs to visit the website of IEPF and file the IEPF claim form on it by submitting his personal details and details regarding his/her ownership of shares.
3. After filing the form, the claimant must take a printout of the form and compile all the copies of necessary documents as prescribed by the IEPF website and Nodal officer.
4. After compilation, the claimant must send the file to the Nodal officer who will check the form and documents to investigate the ownership of the claimant on the shares and verify the details as per the documents submitted.
5. The nodal officer will create a claim verification report based on the claim file and send it within 15 days of receiving it to the IEPF Authority’s regional fund manager.
6. The fund manager after receiving the file will scrutinize the claim verification report along with the application form and the copies of other documents.
7. After thorough verification, the fund manager may take any of the following three action:

1. He can ask for some additional documents from the claimant which should be sent by him/her through the nodal officer.
2. He may reject the application due to some error in the application or missing documents that were not furnished on time.
3. He can sanction the claimed amount after successful scrutinization of the claim file.

The necessity of Legal Help to Claim HDFC’s Old Shares

You might have noticed in the previous sections that thorough scrutiny of the claim form is conducted by Nodal officers as well as the IEPF authority. This is done to ensure that there is zero chance of any fraudulent claim. The ownership documents of shares are thoroughly scrutinized and background checked. Also, the application form is verified thoroughly and even small errors need to be rectified in time or failure to do so could lead to cancellation of a claim.

All these reasons lead to making the claim process a bit time-consuming and tedious for a common investor. To save yourself from the hassle of filing and getting the claim approved by the authority, a shareholder must hire a reputed legal consultancy firm. These firms specialize in the filing of IEPF forms and thus chances of any error in your application will be reduced to none. Also, most of these firms offer end-to-end support and liaising with the nodal officer and IEPF authority in case of any missing documents or other issues with the application. This saves a lot of hassle for the investor. The final and most important help comes in form of getting ownership approval in case the shares are inherited from an elder relative who forgot to name an heir to the shares. The legal firms help the client in proving ownership and legitimate right over the shares so that the claim process is easy.

To conclude…

All the above reasons prove that recovery of HDFC shares is indeed a profitable option for the investor and he or she must look into the investment portfolio of his/her Father or Grand-Father to look for any dormant shares of HDFC Bank LTD. Post that, the investors can simply hire a legal consultancy firm and hand over the job of claiming money/ dividends from IEPF to them on their behalf.

The post Recovery of Unclaimed Dividends of HDFC Bank LTD. from IEPF appeared first on MUDS.

Do you think 1000 shares of a company can give you more than Rs. 30 Lakhs? Yes, you read it right! Apollo Hospitals has done the impossible. If your grandpa or any elderly had bought 1000 shares of Apollo Hospitals during 1995, then today, the value of those shares would be more than Rs. 30 lakhs.

Curious? In this blog, we are going to discuss how you could have earned a fortune if you had just come to know that you owned 1000 shares of Apollo Hospitals in 1995.

About the Company Activity

Apollo Hospitals Enterprise is a corporate house specializing in the healthcare service providers domain. It is a limited firm that runs chains of high-end private hospitals providing world-class health care in multiple domains. The company is also engaged in offering standalone pharmacies. The Various segments company is involved in Pharmacy, Healthcare, and other services related to healthcare. Their healthcare segment consists of hospital chains, hospital-based localized pharmacies, and healthcare projects with consultancy services. The tertiary care hospitals of the company provide care in over 50 specialties that include major healthcare segments like cardiac sciences, neurosciences, oncology, critical care, radiology, orthopedics, gastroenterology, and organ transplant. The tertiary care hospital chain has overall 9,550 beds in approximately 70 locations spread across the country, approximately 170 primary care, over 2,330 pharmacies, and diagnostic clinics. It also has over 150 telemedicine units in 10 countries. Other services offered by the company include project consultancy services, education and training programs, health insurance services, and related research services. It also operates day surgery centers, birthing centers, and dental clinics.

Calculation of Share Prices

• Imagine that you or any family member in your previous generation has bought 1000 Apollo Hospital shares in 1995.
• In June 1995, the shares were issued at Rs. 14. Thus, you would have invested a total of Rs. 14 x 1000 = 14000 Rs. in these shares.
• Apollo company since the year 1995, has issued dividends to its valued investors 26 times. the issued dividends have increased the cumulative earnings for its investors by manifolds.
• Now, the price of 1 share of Apollo Hospitals, as of June 1995 was Rs. 14.43. Thus, the value of your shares at that time was,

Rs. 14.43 x 1000 shares = Rs. 14430 (Fourteen thousand four hundred thirty)

• The above amount is only the price of shares at that time. We have not calculated the surge in values and associated dividends that you could have received so far.
• As of 2021, the Apollo Group’s shares have surged to Rs. 3002.1
• So the price associated with the surge price of shares alone becomes 3002.1 x 1000= Rs. 3002100 (Thirty lakh two thousand one hundred).
• Now if we add the dividends for the said shares in the past 25 years, the amount will surely go up to almost a crore rupees. What were just a thousand penny shares a year ago are now worth almost a crore rupees? This is why recovery of unclaimed dividends and shares of Apollo group is such a great idea.

As you could see, if you had 1000 shares of Apollo Hospitals registered under the name in 1995, then it would have you a Crorepati by today. Now the issue is that once such a long time has passed without claiming dividends on the shares of the investor loses the right to claim the dividends directly from the company. As per the Government’s rule introduced in 2016, these unclaimed shares are treated as forgotten or lost shares once they go unclaimed for 7 consecutive years. After the 7 years are passed, these shares are transferred to a fund created by the government to keep the dormant share money safe under it until the time a rightful claimant arrives for them. . The Government of India has made it mandatory for corporates and listed companies to transfer all their unclaimed dividend lying dormant for 7+ years to the (IEPF) Investor Education and Protection Fund. This fund was introduced in 2016 by the GOI to resolve the issues related to claims of forgotten shares.

Governance Norms for IEPF

The functioning of IEPF is governed by the Companies Act, 2013 and read with the IEPF  Rules, 2016. Once a corporation declares a dividend on the shares, the shareholders get 30 days to say the said dividend. After 30 days, if the dividends remain unclaimed by the shareholders, then the corporate, consistent with the above-stated laws, is obliged to transfer such dividends to a special account. This special account is opened within the name of the corporate, referred to as ‘Unpaid Dividend Account’.

After that, the corporate gets 90 days to publish an inventory of all the shareholders alongside their unclaimed dividends on its website. Additionally, the corporate can use the other mode of communication to inform its members about their unclaimed dividends kept with the corporate. If a shareholder wants to retrieve his unclaimed dividend from the ‘Unpaid Dividend Account’, then he has got to file an application to the agency of the corporate. Despite these, if a shareholder, for any reason stated above, fails to say the quantity from the corporate for 7 years, then the corporate shall transfer such unclaimed dividend to the IEPF Account. The shares on which such dividend was declared also will get transferred to the IEPF for they’re considered as forgotten shares.

Understanding Investor Education and Protection Fund (IEPF)

As stated above, the government introduced the IEPF to deal with the ever-increasing problem of individuals forgetting their stockholdings within a company. The IEPF was launched to market the protection of interest, and awareness of the investors. The unclaimed dividend and lost shares transferred to the present account are taken care of by the government on behalf of the rightful stakeholders. The shares/dividend remain unclaimed because people tend to forget about their stockholdings of the shares. There are multiple reasons why people ditch their ownership within a company.

• The company was small and the investor thought that it won’t make it big and stopped taking cognizance of the investment after a certain period.
• Generally, the investment is of small amounts which lead to an investor forgetting about the shares.
• Shares get attached to the court case laws whose proceedings are pending within the courts regarding any dispute. And so, the shares remain ownerless till the court’s verdict.
• Usually, investors don’t appoint an heir to take over ownership of the shares after their death. Therefore, the shares remain deserted because the potential heirs are clueless about their ownership of such shares.

There could be many other reasons why an investor forgets about his/ her shareholding during a company. This is probably the rationale why many companies have an abundance of dormant shares with them with no sign of ownership.

Before the IEPF was introduced, the companies were required to transfer unclaimed dividends or unclaimed shares to the govt funds for public schemes. Govt could then use such funds for various public welfare schemes and various developmental works. Since the matter of individuals forgetting their shareholdings during a company was increasing, the Govt. realized that it had been causing huge losses for the investors. Therefore, the Govt. decided to line up the IEPF. it’s a one-stop solution that the govt provides to the members/investors of a corporation. Here, the aggrieved investors can approach the authority and claim their dividends. Besides, they will also allow them to get a refund of their long-forgotten shares. The IEPF was started to protect the interests of the investors/shareholders. IEPF protected the investors’ funds while spreading awareness regarding an equivalent.

The Government takes care of the unclaimed dividend and lost shares transferred to the present account on behalf of the rightful shareholders. So, even if 7 years are over, stockholders can still claim their dividends and shares from the fund manager by applying to the managing authority. People can claim their dividends and shares of various companies through one platform rather than getting to each company individually, that’s why IEPF is understood as a one-stop solution.

Unclaimed Dividend & Unclaimed Shares of Apollo Hospitals

We can see the status of the dividend offered by Apollo groups to their investors. Through the following charts released by different sources based on the data released by the company.

Source: https://in.investing.com/equities/apollo-hospitals-historical-data-dividends 

An investor can also analyze the following data released by Economic times to calculate the overall dividends on their shares from 1998 to 2020.

Apollo Funds & Shares transferred to the IEPF

Apollo Hospitals Ltd. has released the data for the funds it has transferred to IEPF over the years of its operations. Since the inception of IRPF, Apollo has constantly transferred dormant dividends and unclaimed money to the fund, and it has released the names of the shareholders with other details on its website. Investors can easily check their names on the lists and also on the company’s portal to understand whether they have any dormant money related to Apollo or not.

To check their status and their names, investors can visit the following links:

• Link to raise a claim on dormant money: iepf.gov.in/IEPFA/refund.html
• List of investors whose shares are liable to be transferred to IEPF in 2020: https://delhi.apollohospitals.com/downloads/List-of-shareholders-whose-shares-are-liable-to-be-transferred-to-IEPF-Fund-in-the-year-2020.pdf
• List of investors whose shares are liable to be transferred to IEPF Fund: https://delhi.apollohospitals.com/downloads/list-of-the-shareholders-liable-to-be-transferred-to-IEPF.pdf
• Shares Due for transfer to IEPF: https://delhi.apollohospitals.com/downloads/Shares%20due%20to%20be%20transferred%20to%20IEPF.xls

List of unpaid dividends transferred to IEPF for last 7 fiscal years:

• Unpaid Dividends transferred for the year 18-19: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-18-19.pdf
• Unpaid Dividends transferred for the year 17-18: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-17-18.pdf
• Unpaid Dividends transferred for the year 16-17: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-16-17.pdf
• Unpaid Dividends transferred for the year 15-16: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-15-16.pdf
• Unpaid Dividends transferred for the year 14-15: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-14-15.pdf 
• Unpaid Dividends transferred for the year 13-14: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-13-14.pdf
• Unpaid Dividends transferred for the year 12-13: https://delhi.apollohospitals.com/downloads/unpaid-dividend/List-of-unpaid-Dividend-for-the-year-12-13.pdf

Along with it, Apollo Hospitals in 2019 alone, has transferred 21,625 shares in the IEPF which have the face value of Rs. 5 each. This is the data for only one fiscal year. The IEPF holds a lot of Apollo shares whose value could go up to crores of rupees. It is a huge chunk of unclaimed money. The shareholders are thus recommended that they check their investment history and if they find some shares of Apollo then they must apply with IEPF to claim dividends for the same.

Deadline Related to Funds & Shares transferred to the IEPF

The Annual Report 2019-2020 also provides the dates by which funds for the respective year would be transferred to the IEPF. The company will transfer the funds in the coming years on the dates mentioned in the list below. Investors are requested to follow the dates and try claiming their amount from the company before these dates. If they fail to do so, the amount will be transferred to the IEPF and then the claim will be made to IEPF only. This process to claim funds will take a little longer time than claiming funds from the company directly.

The following table provides the information regarding dormant amount transfer dates for the respective years by Apollo Hospitals Limited.

For shareholders of Apollo Hospitals:

Source: https://bsmedia.business-standard.com/_media/bs/data/announcements/bse/01092020/93b66bbf-a706-4a94-9422-0f52c2d635de.pdf 

The table above provides the deadlines to the Apollo Hospital to transfer unclaimed dividends of the respective year to the IEPF authorities. Investors can also refer to these tables to check whether their dividends have been transferred to the IEPF or not. 

Unclaimed Shares & Lost Dividend under IEPF from Apollo

The shareholder doesn’t lose his/ her right over the dividend and therefore the shares are still under their name. the only thing that changes is the overseeing authority of shares is transferred to IEPF if the shares are unclaimed for 7 or more years. Despite this, Apollo Hospitals Ltd. still encourages its members to claim dividends on time from the corporate itself, to avoid its transfer to the IEPF Account. Apollo Hospitals does this to avoid its members to travel through the tiresome procedure of recovering the cash and shares from the IEPF Authority. The fund manager follows this rigorous procedure to make sure that the shares get transferred to the rightful owner only. When shares remain unclaimed for such long periods, i.e., seven years or more, they become susceptible to fraudulent transactions/activities. Therefore, the fund manager of IEPF makes thorough investigations before initiating the transfer of the quantity and therefore the shares. This thorough investigation makes it a time-consuming procedure and it becomes hard for the members to get their shares back. Hence, Apollo Hospitals advises its members to take dividends from the company its self as it is easier.

For this job, the Nodal Officer, appointed by the Apollo Management according to the rules of IEPF Authority, is Mr. Priya Ranjan, AVP – Corporate Affairs & Legal Officer (Indraprastha Medical Corporation Limited which is the parent company of the group). To contact the Nodal/ Deputy Nodal Officer of Apollo Hospitals, write an email to  imcl@apollohospitals.com or call at +91 11 – 26925858 / 26925801.

Why does one Need Legal Help?

Hiring a lawyer is going to be extremely helpful if your shares are stuck within a family dispute. As mentioned, sometimes, the shareholder dies with no nominee, and he also forgets to place ownership of shares in his will. In such a case, all the relatives of the deceased could come to lay their right to the deceased’s financial belongings, i.e., Apollo Hospitals Shares. Not hiring a lawyer, in this case, can cost you a fortune that you are simply are entitled to. If you’re without a lawyer, then the opposite party will easily take your advantage and you’ll find yourself with nothing. Why will people leave shares worth crores? A lawyer with command over the aspects of the law can protect you from all the loopholes which could go against you and thus, can provide you with the simplest deal possible.

The claim procedure for refund of unclaimed dividends and lost shares may be a difficult process. It requires a particular degree of financial and legal experience to file the IEPF claim form to the fund manager. Hiring a legal professional can assist you in saving lots of hassles related to this tedious task. Your legal help takes over all the work and formalities related to the filing of refund form. If there are mistakes in the IEPF claim form, the IEPF authority will immediately reject it, and therefore the claimant has got to repeat the entire procedure. Hiring a lawyer will make sure that there are not any mistakes in your form and it is in order to ensure that the procedure goes on smoothly. From contacting the nodal officer to collecting the information related to filing the IEPF application form, the lawyer will handle everything.

As we’ve seen, Apollo Hospitals is extremely active in issuing dividends for its shares to its investors from time to time. Maybe this activity is the reason for their record growth over the last two decades.  Its share price has increased from Rs. 14 to Rs. 3000 in lat two and a half decades. Therefore, if you only came to understand the existence of Apollo Hospitals’ shares in your name, then it’s the simplest time to face your profits. it’s advised that you simply check the tables provided above and find the expiry date by which you’ll claim the dividend from Apollo Hospitals. If your dividend amount and shares are already transferred to the IEPF, then find a consultant as soon as possible. He also will also come in handy in case you would like to fight for the shares stuck within a legal dispute.

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Shares of Ultratech Cement were floating at a price of more than Rs. 6123 per share in the market as of 02 Feb 2021. How would you feel if you suddenly come to know that you own some shares of Ultratech? Amazing, right? Even a small number of 16 shares will fetch you an amount equivalent to almost ₹ 1 lakh.

Excited to know, how? Here, We are going to discuss how you could earn a fortune if you just came to know that there exist old shares of UltraTech Cement in your name. If you have long-forgotten shares of UltraTech Cement which remained dormant for years in the IEPF Account, then read this blog to find out how to lay a claim on them.

History of the Ultratech Cement Ltd.

UltraTech Cement Limited has been engaged in the business activities of cement manufacturing and producing cement-related products. The Company handles the manufacturing of a range of products and caters to constructional needs from foundation to finish. The products include Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Blast Furnace Slag Cement (PSC), ready mix concrete, white cement and white cement-based products, specialty concrete. It also manufactures building products like aerated autoclaved concrete (AAC) blocks with joining mortars and a host of other products. Its geographical segments (Area of Operation) include India and the Rest of the World. The Corporate focuses on a variety of areas of environmental concerns such as alternative fuels, carbon dioxide emission reduction, waste heat recovery systems, waste management, water recycling and biodiversity management. It has over 10 integrated cement units, a white cement unit, approximately 10 grinding units, a wall care putty unit, 5+ bulk terminals, and more than 100 ready mix concrete units.

It has continued to generate profits in the past one and half decades due to which its share price kept on increasing. During the pandemic itself, the stock price has dropped a little but it has picked by huge margins after the lockdown due to increased demands. the company’s net income in the last financial year as declared in March 2020 was Rs. 40649.19 Crores with an added income from other sources amounting to Rs. 726.58 Crores. Even after managing the amount for deductions such as total expenses of Rs. 31996.87 Crores, the company still managed an operating profit of Rs. 8652.38 Cr.

UltraTech Cement is known for giving its shareholders generous dividends. To date, the company has given a total of 17 dividends to its investors. And in 2020 alone, the company has declared a dividend of 130 % per share.

If you have 600 shares of UltraTech Cement registered under your name in 2004, then the value of those shares as of today would have been in crores. The dividend amount alone would have been in lakhs.

Calculation

• Suppose you have 600 shares of UltraTech Cement Ltd. registered under your name in 2004.
• Now, the price of 1 share of UltraTech Cement, as of September 2004, is Rs. 266. Thus, the value of your shares as of September 20004 was,
• ₹ 266 x 600 shares = ₹ 159600 (One Lakh Fifty-Nine Thousand Six Hundred)
• The above amount is only the price of the shares in 2004. Now the same shares would be valued in current terms as per today’s price.
• The amount of as per price in February 2021 is,   

₹ 6208.5 x 600 shares = ₹ 37, 25, 100 (Thirty-Seven Lakhs Twenty Five Thousand One Hundred).

• The amount is an increase of almost 2234% which is humongous. Now we have not added the amount of dividend received on the investment in all these years. If we calculate the dividends according to the chart mentioned above, then the total value of stocks will skyrocket and may end up reaching near one crore.

As you can see, the shareholders of UltraTech Cement have received a huge amount in terms of dividends and valuation increase over time from the company. From 2004 onwards, the shareholders, have made huge profits.

As you could see, if you had invested in only 600 shares of UltraTech Cement, then you would have become a Crorepati by today. Now, imagine that someone has invested in this company a long time ago and then forgot about the invested amount due to any unavoidable reason. Or someone has inherited some shares of Ultratech from the investment of one of their deceased family member, and only got to know about it today. 

In both scenarios, that person would have got rich instantly by today’s valuation of those shares. But here is the catch! Due to no claim on any dividend on these shares for 7 years straight these shares would have now been transferred to IEPF Authority. In such a scenario, these shares won’t be in your possession anymore because they had been transferred to the IEPF fund of the Govt. However, this does not mean that those shares are no longer available for the owner or the heir of the deceased owner. The only difference is that the Government, on the investor’s behalf, is keeping the shares and corresponding dividend with them till someone raises a claim on that.

Investor Education and Protection Fund – An Overview

The Govt. started this scheme to educate the investors and protect them from losing their rights over the funds and therefore the shares. When the investors won’t ditch their shares, the shares will not be transferred to the Govt IEPF Fund. Since the matter of individuals forgetting about their shareholdings of a company was increasing, the Govt realized that it had been causing a huge loss for the investors. Therefore, the Govt in 2016 decided to line up the IEPF. It gives a one-stop solution to the investors for raising the claim on their long-lost investments. Here, the members can approach the govt and claim their dividends and ask them to refund their long-forgotten shares. This authority was initiated keeping in mind the interests of the shareholders of companies listed in the stock markets of India. IEPF protected the investors’ funds while spreading awareness regarding the same among stock investors.

The Government takes care of the unclaimed dividend and lost shares transferred to the present account on behalf of the rightful shareholders. So, after 7 years, investors can simply claim their dividends or shares from the IEPF fund manager by applying to the managing authority. People can claim their dividends and shares of various companies through one platform rather than getting to each company individually, that’s why IEPF is understood as a one-stop solution.

There are various reasons why an investor tends to ditch its investment during a company:

• No Nominee/Heir to Shares: Usually investors don’t appoint a nominee/ heir to require care of the shares after their death. Therefore, the shares remain unclaimed as the perspective heirs are clueless about their ownership.
• Court Disputes: Shares get attached to the court because proceedings are pending within the courts regarding the property dispute. Hence, the shares remain ownerless till the court’s verdict is granted.
• Small Investments: Generally, the investment is of small amounts thanks to which an investor forgets about the shares.

These are amongst many other reasons why an investor forgets about his/ her investment during a company. thanks to these reasons, the dividends on the shares remain unclaimed for years and therefore the companies find themselves with abundant shares lying with them with no sign of ownership.

Rules related to IEPF

The functioning of IEPF is governed by the norms of the Companies Act, 2013 and the regulation of the act comes under Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. Once a corporation declares a dividend on the shares, the shareholders get 30 days to apply for the said dividend. After 30 days, if the dividends remain unclaimed by the shareholders, then the corporate being consistent with the above-stated IEPF regulations, is obliged to transfer such dividends to a special account. This special account is opened within the name of the corporate, referred to as ‘Unpaid Dividend Account’ of the Company.

After that, the corporate gets 90 days to publish an inventory of all the shareholders along with their unclaimed dividends on its website. Besides, the corporate can also use the other mode of communication to inform its members about their unclaimed dividends kept with the corporate. If a shareholder wants to retrieve his/her unclaimed dividend from the ‘Unpaid Dividend Account’ of the company, then he/she has got to file an application to the agency of the corporate. Even if a shareholder fails to claim the amount from the corporate for 7 years due to any reason stated above, then the corporate shall transfer such unclaimed dividend to the IEPF Account. If the dividends aren’t claimed for 7 years, then the shares on which such dividend was declared were considered as forgotten/dormant shares. Therefore, they also get transferred within the name of the IEPF.

Dividends and Shares of Ultratech Cement in IEPF

The Annual Reports of a corporate state the present status of the dividends and shares of the corporate which are transferred to the IEPF account. consistent with the Annual Report of Ultratech Cement of 2019-2020, all the unclaimed dividends up to the fiscal year 1995-1996 which remained unpaid and unclaimed with the corporate were transferred to the Central Government’s general revenue account. As mentioned above, before the introduction of the IEPF, the businesses were alleged to transfer the funds to the Central Government.

All the unclaimed dividends, from the fiscal year 1996-1997 to 2012-2013, remaining deserted with the corporate, coupled with the related shares, were transferred to the IEPF account within the name of the Central Government. The unclaimed dividends and shares were transferred to the IEPF Under Section 124, Companies Act, 2013 and Investor Education and Protection Fund Authority Rules, 2016.

Unclaimed dividends declared by the corporate for the fiscal year 2012-2013 were recently transferred to the IEPF consistent with the Annual Report 2019-2020. The deadline to say the dividends for the fiscal year of 2013-2014 is going to be given within the annual financial report of 2020-2021. just in case a shareholder wants to get his/ her dividends, then he/ she will have to approach the corporate Registrar/ agency of the corporate with the specified documents. The shareholders can reach the corporate nodal officer of the company Ms. Swati Patil at Email ID: iepf.utcl@adityabirla.com

Dividend transferred to the IEPF by Ultratech

According to the data released by Ultratech Cement in its AGM, It has granted the following dividends on year by year basis to its investors:

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In the previous fiscal years, Ultratech Cement has transferred huge amounts to IEPF. The shareholding in Ultratech which remained unclaimed has been high in previous years.  The company has given the facility to its investors to check whether their amount has been transferred to the IEPF on its website. The corresponding amount for shares can be calculated by multiplying the no. of shares with their current price.

The corporate features a huge chunk of unclaimed shares within the IEPF. Thus, the shareholders are strongly advised to search their investment history, or the ownership of shares passed on from a deceased loved one and claim their dividends and shares from IEPF.

Unclaimed Dividend & Lost Shares of Ultratech Cement Transferred to IEPF

Now, you would possibly be wondering what happens to the shares and therefore the dividend transferred to the IEPF. does one still retain the proper over the unclaimed dividend and therefore the lost shares?

The short answer to this question is “Yes”. Yes, you are doing retain rights over the dividend and therefore the lost shares, regardless of the very fact that an equivalent has been transferred to the IEPF Account. As mentioned above, earlier it wont to happen that the shareholder loses the rights over the dividend amount and therefore the shares once they were transferred to the govt funds. But with the introduction of IEPF, a shareholder does not lose the right over the dividend amount also on the related shares. He/ she will apply to the fund manager to get the accumulated dividend over the years and therefore the shares get back to the first shareholder or the heirs in case he/she is deceased.

Despite this, Ultratech Cement still encourages its investors/shareholders to claim the dividends on time from the corporate itself, and avoid the transfer of shares to the IEPF Account. the corporate send individual letters, through posts and other modes of communication, to remind their shareholders of their holdings within the company. Ultratech Cement does this to stop its members from the rigorous and tiresome procedure of recovering the dividends/shares from the IEPF Authority. The fund manager follows this rigorous procedure to make sure that the shares get transferred to the particular owner only. When shares remain unclaimed for an extended period, i.e., 7 years or more, they become susceptible to someone fraudulently transferring them to his name. Thus, to avoid such fraudulent transfers, the fund manager makes thorough scrutinization of all the applications before initiating the transfer of the quantity. Due to this thorough verification, the procedure becomes time-consuming and it becomes hard for the members to urge their shares back from IEPF. Therefore, Ultratech Cement recommends its shareholders to take the dividends from the corporate on time as it takes less time and is a simple process. To get the dividends, the shareholders need to apply to the Registrar or the agency of the corporate at the above-mentioned address. However, if your shares are already transferred to the IEPF, then you’ll approach the Nodal Officer, Ms. Swati Patil, or the Deputy Nodal Officer of the corporate, appointed for this regard. To contact the Nodal/ Deputy Nodal Officer of Ultratech Cement, write an email to them on their official id iepf.utcl@adityabirla.com.

The Necessity of Legal Help for Ultratech Claim?

As stated above, the procedure to apply for the refund of unclaimed dividends or lost shares from the IEPF Authority may be a difficult process requiring legal and financial knowledge. A particular degree of experience is also required in filing the application to the IEPF fund manager. Hiring a legal professional can assist you and save lots of time from this tedious task. Your legal advisor will take care of all the work and related formalities to file the refund application to the IEPF. If there are mistakes in the application, the IEPF authority rejects it, and therefore the claimant has got to repeat the entire procedure. Your advisor will ensure that there are no mistakes in your application so that the authority approves it without objections. From contacting the nodal officer to gathering information for filing the application with the authority, the lawyer will do everything.

Hiring a lawyer could be extremely helpful if your shares are stuck in a complex family dispute. As mentioned, sometimes, the shareholder dies with no nominees for their shares, and he also forgets to place shares in his will. In such a case, all the relatives of the deceased could come to lay their right to the deceased’s property, i.e., Ultratech Cement Shares. Not hiring a legal advisor can cost you a fortune that you simply are entitled to. Why will people leave shares worth crores? These disputes can take an extended period of your time before getting settled. And if you’re without a lawyer, then the opposite party will walk all over you and you might end up with nothing but pennies. A legal professional or a legal firm will represent you in such cases associated with the ownership of the shares. A lawyer with the command of the law can protect you from all the loopholes which could go against you and thus, can get you the perfect settlement.

To Conclude…

Ultratech Cement is one of the largest and diverse construction material manufacturing companies with constant growth. Even this year, when everyone was struggling to cope up with the pandemic, the stock prices of this company managed to retain their value per share during the lockdown. Due to this ever-increasing pace, the price of 1 share of Ultratech Cement is now floating at 6208 Rs. per share. Therefore, it could be the most appropriate time to sell some of these shares to secure a good profit. It might even help in coping with the financial difficulties, if any, that came due to the economic disruptions caused by the pandemic. So, if you just came to know about the existence of such shares in your name, which was left to you by your deceased elderly, then waste no time in claiming them from the IEPF fund manager.

In addition to the shares, one also receives the dividend accumulated over time. We would advise you to check out the links mentioned above and check out the related section of the company’s website to know the status of unclaimed shares. Gather information regarding your dividends accumulated so far, along with your shareholding in the company, and file an application to claim your dividend from Ultratech Cement. You will have to apply to the Nodal Officer of the Company, by contacting them on the email id provided in the previous sections. For further assistance, hire a legal expert ASAP and apply to the IEPF Authority for the refund of the unclaimed dividend and the recovery of the transferred shares.

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