Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has issued a formal notification to shareholders regarding the transfer of equity shares to the Investor Education and Protection Fund (IEPF). This action is mandated for shares where dividends have remained unclaimed for seven consecutive financial years, commencing from FY 2018-19. Shareholders are urged to claim their outstanding dividends by October 31, 2026, to avoid losing their shares and associated benefits to the IEPF.
GNFC Initiates Transfer of Unclaimed Shares to IEPF
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has formally informed its shareholders about the impending transfer of equity shares to the Investor Education and Protection Fund (IEPF). This regulatory requirement stems from Section 124(6) of the Companies Act, 2013, and the associated IEPF Rules, which dictate the process for shares with unclaimed dividends.
Mandatory Unclaimed Dividend Policy
The company’s records indicate that certain shareholders have not claimed their dividends for a period of seven consecutive financial years. These periods range from FY 2018-19 through FY 2024-25. As per the regulations, such shares, along with any accrued benefits, are subject to transfer to the IEPF.
Action Required by Shareholders
Shareholders who fall under this category are strongly advised to claim their outstanding dividends. The deadline for submitting the necessary application form and prescribed KYC documents to the Company’s Registrar and Share Transfer Agent (RTA), KFin Technologies Limited, is October 31, 2026. Failure to comply by this date will result in the transfer of the relevant shares to the IEPF, and any subsequent claims will need to be directed to the IEPF Authority.
KYC Compliance and Dividend Claims
For dividends pertaining to shares held in physical form, SEBI regulations now mandate that outstanding dividends will be credited directly to the registered bank account only if the folio is KYC compliant. Essential KYC details include a linked PAN and Aadhaar Card, bank account information, email ID, mobile number, address, and nomination details.
Source: BSE
