General Insurance Corporation of India (GIC Re) is reminding shareholders about upcoming deadlines to claim unpaid dividends and shares. Dividends declared for FY 2018-19 and older, remaining unclaimed for seven years, along with corresponding shares, are scheduled for transfer to the Investor Education and Protection Fund (IEPF) by October 1, 2026. Shareholders are urged to submit their claims to avoid losing these assets.
Urgent Call for Shareholders: Claim Your Unclaimed Dividends and Shares
General Insurance Corporation of India (GIC Re), a Government of India undertaking, has issued an important notice to its shareholders regarding the transfer of unclaimed dividends and shares to the Investor Education and Protection Fund (IEPF) Authority. Shareholders who have unclaimed dividends, particularly for the financial year 2018-19 and prior, are strongly advised to take immediate action.
Key Dates and Transfer Process
According to the provisions of the Companies Act, 2013, dividends that remain unpaid or unclaimed for seven years from the date of transfer to the Unpaid Dividend Account are liable for transfer to the IEPF. Similarly, shares linked to these unclaimed dividends are also subject to transfer. The critical deadline for shareholders to claim their dues and prevent the transfer of their shares to the IEPF is October 1, 2026.
How to Claim Your Dues
Shareholders holding shares in demat mode need to submit a signed request letter along with their Client Master List (CML), a cancelled cheque leaf, PAN card, and address proof.
For shareholders with shares in physical mode, the process involves submitting a signed request letter, Investor Service Request Form ISR-1, Form ISR-2, Form SH-13 (Nomination Form), a cancelled cheque, bank-attested first page of the bank passbook/statement, PAN card, and address proof.
If your folio is KYC compliant, unclaimed dividends can be credited directly to your bank account. Please ensure your bank details are updated. Failure to provide necessary documentation or claim by the deadline will result in the transfer of your dividend and shares to the IEPF Authority.
Consequences of Non-Claim
Once shares are transferred to the IEPF Authority, all future benefits, including dividends, will be credited to the IEPF. Shareholders can reclaim their entitlements from the IEPF by submitting an online application in the prescribed Form IEPF-5 on the website www.iepf.gov.in. The company will be compelled to transfer shares without further notice if claims are not processed by October 1, 2026.
For further assistance or clarification, shareholders may contact KFin Technologies Limited or the Company Secretary’s office at General Insurance Corporation of India.
Shareholders are also urged to keep their email IDs updated with the Corporation or their Depository Participant to receive timely communications.
Source: BSE
