How to claim TCS Dividends and shares from IEPF?

How would you feel if you got a 2000/- from a cupboard that you never expected?

Very happy & excited.

Now imagine if you get 1cr, which you were never expecting.

Following our agreement, we are bound not to reveal the actual identity of our clients; therefore, I will refrain from disclosing the actual names.

In 2005, our client's father acquired 500 shares of TCS at 342.27, totalling an investment of Rs 171135.

1. TCS announced a Bonus on 28th July 2006 in 1:1.
   
   The number of shares after the split went to 1000


2. Bonus on 16th July 2009 in 1:1
   
   So, the number of shares after the split went to 2000


3. Again, bonus on 31st May 2018 in 1:1
   
   So after this split number of shares went up to 4000

In the year 2022, when the client approached us, the market price for TCS shares was approximately Rs 3050.

The Total Value of Investment in the year 2022 was Rs. 1.22 Crores.

Why had their shares gone to IEPF?

They had changed residence during this course of years. Also, the client's father had passed away. The son was completely unaware of this investment.

According to government regulations, if dividends on shares remain unclaimed for seven or more consecutive years, the company must transfer them to the Investor Education and Protection Fund (IEPF).

Before, when investors didn't collect their dividends, companies often kept the money without informing them.

To fix this issue, the government introduced the IEPF. It mandates that companies transfer unclaimed dividends, which have been neglected for seven consecutive years, to a fund for investor protection.

The client initially inquired about his father's Havells investment. During the conversation, our CEO, Mr. Vinny, delved deeper to learn more about the client's family background and investment practices. After obtaining some basic information, Mr. Vinny encouraged the client to provide a family tree and additional details. Following this, our research team initiated an investigation, ultimately leading to the TCS investment's discovery.

What is the procedure for claiming TCS unclaimed shares and dividends from IEPF authority?

To make an IEPF claim, you can follow the steps given below:

1. Access the IEPF-5 form on the MCA portal via the IEPF website, and refer to the instruction kit for guidance.
2. Upon submission of the form, an acknowledgement will be generated with a unique "Submit Request Number" (SRN) that should be noted for tracking purposes.
3. Please print out the form and bring along the issued acknowledgement when needed.
4. Please submit the original copy of the indemnity bond, a copy of the acknowledgement, a share certificate, and IEPF Form 5. Along with these, please include a self-attested Aadhaar card, details of the bank account linked with your Aadhaar card in which the claim is to be received, and your demat account number. The envelope should be marked as "Claim for refund from IEPF Authority" and sent to the company's Nodal Officer (IEPF) at its registered office.
5. After submitting the claim form, it will be verified by the company's Nodal officer. Once the verification is complete, the officer will forward the form to the IEPF authority. Based on the verification report, the IEPF authority will refund any unclaimed shares and dividends to the client's account.
6. IEPF authorities must respond to the company's verification report within 60 days.

Refunds from IEPF can take 8-24 months and are complex.

Due to the complexity involved, many people tend to quit midway through the exercise. We are a team of professionals, including Company Secretaries and Lawyers, who have successfully recovered 100 Crores.

How can one check whether their TCS shares have been transferred to the IEPF?

You can search using details such as name, folio number, client ID, DP-ID, account number, or father's name on the Ministry of Corporate Website.

We have noticed at times that this portal doesn't provide accurate information. Under such circumstances, the best action is to contact the company's registrar.

How to Contact the Registrar of TCS IEPF shares?

TSR Consultants Private Limited (TCPL)

(formerly known as TSR Darashaw Consultants Private Limited) C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg,

Vikhroli West, Mumbai 400 083

Telephone: +91 22 6656 8484

Extn: 411/412/413

Fax: +91 22 6656 8494

E-mail: csg-unit@tcplindia.co.in