Let's Start Recovering Your Lost Shares & Forgotten Wealth
Posted By ARA | 01st Jan 2022
Maruti Suzuki India Ltd., established in 1981, is a prominent player in the automobile industry, boasting a substantial market capitalisation of INR 3.09 trillion.
Since its debut on the Stock Exchanges, Maruti's shares have consistently ranked among the top-performing stocks in the market. In 2003, Maruti's per-share price was around Rs. 155, which has now risen to Rs. 10,226. (as of Oct 2023).
That means a total investment of 155 X 1000 = 1.55 lacs
The current Market Price of Maruti shares is = 10226 per share as of Nov 2023.
Total Value of Investment as of 2023 = 1000 X 10226 = ~ 1.02 Crores.
If you had Maruti shares that ended up in the IEPF, just think about your current net worth. In this calculation, we haven't factored in the impact of bonus shares and share splits yet.
According to government regulations, dividends on shares that have not been claimed for seven or more consecutive years must be transferred to the Investor Education and Protection Fund (IEPF) by the company in question.
If dividends go unclaimed for seven consecutive years, a company is obligated to transfer the shares to the IEPF.
The government has taken such actions at the behest of shareholders.
At times, due to various circumstances, some shareholders failed to collect their dividends. Companies would seize this opportunity, capitalizing on the investors' lack of awareness and retaining the funds.
Its full form is the Investor Education and Protection Fund. It was created on 7th September 2016 under the provisions of section 125 of the Companies Act, 2013.
Its full form is the Investor Education and Protection Fund. It was created on 7th September 2016 under the provisions of section 125 of the Companies Act, 2013.
IEPF is tasked with responsibilities such as issuing refunds and retrieving shares, matured deposits, debentures, and unpaid dividends. It also focuses on raising investor awareness and facilitating the reimbursement of legal expenses related to depositors' legal actions.
Unclaimed dividend under IEPF: Individuals whose unpaid or underpaid funds have been transferred to IEPF authorities by the company can retrieve their reimbursements.
It's advisable to choose the "transfer of shares on death" option to facilitate the transfer of shares upon a shareholder's death.
In the event of a shareholder's passing, their shares are passed on to the individual specified as the beneficiary in their will or determined by intestacy laws.
The responsibilities concerning the rights of the deceased shareholder fall upon the executors (if a will is in place) or estate administrators (if the shareholder passed away without a will). If you need to transfer physical shares, you can achieve this through the issuance of a duplicate share certificate.
Maruti Suzuki had a lot of unclaimed dividend money from its investors, amounting to thousands of crores. They keep records of this unclaimed money on their website. They've also encouraged most of their investors to claim this money and get back their shares or refunds before they have to send it to IEPF (an investor protection fund).
To verify if your Maruti shares are held in IEPF, adhere to the steps provided below:
Please Note: You have the option to search using any of the following combinations:
At times, the link above doesn't yield accurate information; it's advisable to get in touch with the company's registrar. You can find the registrar's name and email address in Maruti's Annual Report.
Getting back lost money and shares requires showing proof and following certain rules.
It's advisable to enlist the services of a law firm experienced in handling such cases. These professionals can assist you through the entire recovery process, making it more accessible.
If you have any questions or concerns about retrieving your unclaimed investment, don't hesitate to contact a reputable legal firm with expertise in this area.