Bank of Maharashtra has issued a formal communication to the stock exchanges concerning the transfer of eligible equity shares to the Investor Education and Protection Fund (IEPF) Demat Account. This action is undertaken in compliance with the amended Section 10B of the Banking Companies Act, 1970, and the IEPF Rules, 2016. The bank confirmed that detailed communications were sent to the affected shareholders on March 31, 2026, regarding their shares becoming eligible for this transfer.
Official Disclosure on Share Transfer
Bank of Maharashtra has notified the stock exchanges regarding an important administrative action concerning its equity structure. This notification pertains to the mandatory Transfer of Equity Shares of the Bank to the IEPF Demat Account.
Compliance and Regulatory Basis
This transfer process is being executed pursuant to the necessary amendments made to Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Furthermore, it aligns with Section 124 of the Companies Act, 2013, and the specific requirements laid out in the amended Investor Education and Protection Fund (IEPF) Rules, 2016.
Shareholder Notification Date
The bank confirmed that prior to this disclosure, specific communications were dispatched to all shareholders whose equity holdings were deemed eligible for transfer to the IEPF Demat Account. This direct notification to the affected shareholders was executed on March 31, 2026.
Stock Exchange Details
For listing and reference purposes, the bank provided the following identifiers:
- BSE Scrip Code:
532525 - NSE Scrip Code:
MAHABANK
The communication was formally signed and authorized by Vishal Sethia, Company Secretary & Compliance Officer, on March 31, 2026.
Source: BSE
