It is important to know the reasons why shares can be transferred to the IEPF before we examine the procedures for verifying whether shares have been transferred.

Shares can be transferred to the IEPF in the following situations:

  1. Unclaimed Dividends: Dividends not claimed by a shareholder for seven consecutive years are escheated to the IEPF, with the shares as well.
  2. Unclaimed Shares: If the shareholder does not take action to claim the shares or exercise any rights attached to the shares for seven consecutive years, the shares will be transferred to the IEPF.
  3. Inactive Accounts: According to Section 108 of the Companies Act 2013, if the shareholder has not been communicated for seven years the share can be transferred to the IEPF.
  4. Dormant Companies: If a company has not been in operation for seven consecutive years and the management of the company has not held the statutory annual general meetings, has not filed its financial statement or any other document with the registrar, the company’s shares can be transferred to the IEPF.

To protect the interest of investors and investor awareness, the Indian government has formed the IEPF. If shares are transferred to IEPF the legal title of the shares will vest in the IEPF. But, still, through the refund policies of the IEPF, shareholders can get back their respective shares.

Steps to Check if Your Shares Were Transferred to IEPF

This process of attempting to verify whether your shares were transferred to IEPF depends on the circumstances but here are two general approaches to help you.

Method A: Using the Ministry of Corporate Affairs (MCA) Website

To verify whether your shares have been transferred to the IEPF, follow these steps on the Ministry of Corporate Affairs website:

  1. Visit the IEPF section of the MCA website at https:http://www.iepf.gov.in/IEPF/refund.html.
  2. In the search bar of the homepage, there is a button: “Search IEPF Refund Claims.”
  3. Here, provide the company’s name, your PAN card number, folio numbers and the name investor.
  4. On completing the details, click on the button marked “Search” to view the search results.

This will help you know your share status and whether your shares have been transferred to the IEPF.

Method B: Contact the Company or Registrar

Another way to learn about the transfer of shares to the IEPF is by approaching the company of the shares you own, the company’s registrar or its transfer agency. You can email them. 

These should be in a position to give you the status of the shares that you own. Normally, shares are taken to the IEPF only when the dividend or any other benefit touching the share remains unpaid for some time. If your shares are lying in the IEPF and you have not yet claimed them, then you can file for the reclaim under the procedure mentioned on the IEPF’s website.

For any further assistance, you can also contact the IEPF directly.

Should you experience any difficulties in your attempt to reclaim your shares, SharesClaim.com provides assistance as to how the process of getting back your transferred shares goes.

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