Treasure Hunt - Lost Shares

KIN~UNKNOWN

Do you know?

• 1 TCS share of Rs 850/- in 2004 worth Rs. 28,000/- now
• 1 MRF share of Rs 320/- in 1990 worth Rs 97,000/- now
• 1 Shree Cement share of Rs 1650 in 2011 worth Rs 26,000/- now
• …many more

By now, you must be craving for these stocks which would have made you millionaire…. Millions of shareholders have unclaimed shares worth billions of rupees in some of India’s largest companies.

Per SEBI Rs 17,326 crore (Rs 173.26 billion) in unclaimed shares transferred to the Investor Education and Protection Fund (IEPF). The shares on which dividends were due for seven consecutive years were transferred to the IEPF Authority.

Let’s begin a Treasure Hunt to discover whether you have or your caring parents have left these stocks for you….

There are many reasons leading to unclaimed share

• You would have forgotten your Demat Account opened during share market boom
• You would have misplaced your Physical Share Certificate
• You may not be aware of the Shares (Physical/ Demat) left by your Parents/Grandparents

God gives multiple hints for the hidden treasure; you need an eye to find it

• Unknown Share dividend in your/ parents bank account
• Dividend warrant/ cheque delivered at your home/ ancestral house
• Annual report / other communications from companies
• E-mails by companies / Depository Participants / Depositories (NSDL/CDSL)
• Demat slips / Demat statement lying in old almirah
• Dividend income appearing in Income Tax Form 26AS

Further, you may take pro-active actions

• Try to recover your past email account to check for any missed investment mails
• Conduct IEPF search for old shares (https://www.iepfportal.in/)
• Look at respective companies’ website unclaimed share section

By now you would have identified some of the hidden jewels, let look into steps to be taken to recover the same:

Congratulations! You have discovered an Old Demant Account in your name

• Reach out to customer care of the Depository Participant
• Activate the account by submitting KYC documents

Congratulations! You have discovered an evidences of physical share certificate in your name

• Inform company about the lost or misplaced share certificate and relevant details by post or email
• Documents required for issuing the Duplicate Share Certificate
  • Indemnity bond agreement on a non-judicial stamp paper
  • Affidavit attested by the Notary Public
  • I.R filed with the police containing the following information about the lost share certificate
  • Name, folio number and distinctive number of shares mentioned on the share certificate.
  • Advertisement published in a newspaper about the loss or misplacement of the share certificate.
  • Proof of identity and residence of the shareholder

Posted On: 2024-04-12