Listen up: Claim your dividend by September 10th, or the money will be transferred to the government account
News Topical, Digital Desk : Here's a Final Warning from the company; Collect your dividend till September 10th, otherwise it will be transferred to govt account If you hold shares of VST Industries Limited and had missed receiving your dividends from previous years, it’s the right time to take notice. A big warning is in store from the company for shareholders who had kept their dividends for the last 7 years lying unclaimed. Renowned investor Radhakishan Damani has investment in this particular company.
The entire story VST Industries Limited has made it clear through intimation to stock exchanges and by publishing ads in newspaper (Business Standard, Nava Telangana), that the dividend of financial year 2018-19 that remains unclaimed and related equity shares, would be transferred to the Investor Education and Protection Fund (IEPF) of the govt.
According to Section 124(6) of the Companies Act, 2013, when a shareholder remains inactive with dividends from seven consecutive years, the amount must be transferred by the company along with its shares, to the govt established IEPF authority. Critical Dates The company has clearly informed that eligible investors will get a chance to submit the claim up to September 10, 2026. After this date, should a suitable claim not be filed, the company shall commence the process of transferring the equity shares without sending further intimation. What should the shareholders do Any shareholders owed dividends must now promptly get in touch with the registrar of companies, KFin Technologies Limited.
Investors need to mail an application letter signed by them, including details of their folio or DP ID/client ID, to claim their unpaid dividends.
The corporation said that shareholders who’s equity shares gets transfer to IEPF can thereafter claim it back in future through a form in the IEPF Authority web-site; However, the claim cannot be made after the transfer takes place. Essential advise to investors All shareholders are encouraged to urgently revise all KYC details including pan number, email Id, bank details and mobile no. To receive future dividends directly in to bank account.
