IEPF – Refunds & Claims
The Government of India has established INVESTOR EDUCATION & PROTECTION FUND (IEPF) AUTHORITY on 7th September 2016, under the provisions of Section 125 of the Companies Act, 2013. IEPF is a government held authority that operates under the Ministry of Corporate Affairs with the motive of safeguarding investors interest.
Investors who have not encashed the dividend for the period of consecutive 7 years, their underlying shares are transferred to the IEPF. For claiming any of these shares and dividends, Investor needs to file an application with the IEPF Authority along with the necessary documents.
We at SHAREINTIME FINSERV assist in filing the claim for Refund of Shares & Dividends along with the necessary documents and make sure of smooth recovery from IEPF Authority.
Transmission of Shares
TRANSMISSION OF SHARES takes place in the event of death of Original Shareholder. TRANSMISSION OF SHARES at times is highly cumbersome and runs into many legal complications.
The process is carried to transfer the title of shares in the name of nominee or legal heir(s). TRANSMISSION OF SHARES takes place on basis of Will or an agreement.
We at SHAREINTIME FINSERV assist by providing services relating to entire range of transmission of shares.
Duplicate Share Certificate
A Share Certificate serves as a legal document that certifies the legal ownership of specific number of Shares held in a Company. The Physical Share Certificate is prone to Mutilation / Theft / Lost in Transit.
A DUPLICATE SHARE CERTIFICATE means a certificate issued in lieu of Original Share Certificate when such Original Share Certificate is reported to be lost by Shareholder along with proper evidence or is surrendered to the Company if the same is defaced, mutilated or torn out.
We at SHAREINTIME FINSERV assist for issuance of DUPLICATE SHARE CERTIFICATE by complying with various procedural requirements.
Bonus Share Certificate
Bonus Shares are free shares issued by the Company to its existing Shareholders. When the Bonus Shares are issued, the number of shares the Shareholder holds will increase but an investment’s overall value will remain the same.
Companies issue Bonus Shares to encourage retail participation and increase their equity base. Investors sometimes lose the benefits of Bonus Shares, Split Shares, Right Issue, Dividends etc due to change in address or contact details not updated in the records of the Company.
We at SHAREINTIME FINSERV assist for issuance of BONUS SHARE CERTIFICATE by complying with various procedural requirements.
Demat of Share Certificate
Dematerialisation of Shares is conversion of Physical Share Certificates of a particular Company to an electronic format. If you still have Physical Share Certificates, it’s time to convert Physical Share to Demat now.
SEBI has stopped transfer of shares held in Physical form w.e.f. 01st April 2019. Now these shares can be transferred or sold to any other person by converting in Demat form only.
We at SHAREINTIME FINSERV assist to convert Physical Shares to Demat form.
Recovery of Inoperative Bank Accounts
An Inactive Bank Account is termed as Inoperative if there have been no transaction in the account for over 2 years. Once a Bank Account becomes Inoperative, the account holder cannot transact in the particular account.
If the Bank Account remains Inoperative for 10 years, it becomes unclaimed and the account’s balance and interest accrued are transferred to DEPOSITOR’S EDUCATION AND AWARENESS FUND (DEAF), which was launched by RBI in 2014.
We at SHAREINTIME FINSERV assist in making the Bank Account Operative again and also claiming money from particular account by following procedure prescribed by Bank. Further if there is death of Account holder, we assist in transmission through legal process and claim the money to legal heirs.
Recovery of Bank Deposits
If Bank Deposit matures and the proceeds remain unpaid, the amount left unclaimed with the bank gets converted into an interest bearing demand deposit and attracts rate of interest as applicable to savings deposit account.
If the Bank Deposit remains unclaimed for 10 years, cumulative balance and interest accrued are transferred to DEPOSITOR’S EDUCATION AND AWARENESS FUND (DEAF), which was launched by RBI in 2014.
We at SHAREINTIME FINSERV assist in claiming money from particular Bank Deposit by following procedure prescribed by Bank. Further if there is death of Account holder, we assist in transmission through legal process and claim the money to legal heirs.
Unclaimed Investments – Search
SHAREINTIME FINSERV has expertise in discovering the Unclaimed Investment in Investor name and filter out the information of rightful owner or their legal heirs entitled to claim the unclaimed investment.
Succession Certificate / Probate of Will / Legal heir Certificate
SHAREINTIME FINSERV provides legal support for obtaining Succession Certificate / Legal Heir Certificate / Probate of Will to enable transmission of the investments in favour of legal heirs.