Frequently Asked Questions

Generally, the Current Account is owned by business owners, corporates, or companies that give them the flexibility to process the financial dealings with internal organizations and clients. The current account gives the easy flexibility to make payments to the creditors. Usually, current accounts are limited to intra-companies or employees transactions. Hence, a company cannot exercise the privilege of transferring funds from the current account to IEPF. IEPF does not provide for this easy flow of transactions and the owner of the current account cannot claim their corresponding amount from their dividend account to their current account.

As a shareholder, you can directly get in touch with the nodal officers to seek complete redressal for your funds. So you don’t have to worry when you can directly contact the concerned department. Use the following pdf to locate the available nodal officers for IEPF. All the contact details along with the location are attached to this file. http://www.iepf.gov.in/IEPF/pdf/nodalofficers_26102020.pdf  

You can directly connect to the Anil Ambani Group by using the following contact and office details.

Anil Ambani Office Address: Reliance Communications Limited, I Block, 2ndFloor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, India.

Anil Ambani Office Fax Number: 91 22 3037 5577

1. Anil Ambani Office Email ID: anil.ambani@relianceada.com, contact@relianceada.com

Depositors cannot lead their shareholders astray by blowing them with an unprecedented scenario, it is vital to work on the course of action. IEPF works for the benefit of shareholders and has a rule that advances protection. As per Rule 6 of IEPF, 2016 Companies are required to at least notify shareholders in a minimum of 3 months on or before the due date of transfer of shares. It is equal to 6 years and 9 months before the date of transfer of shares. Therefore, shareholders will be given prior information so that they can manage their shares properly.

The information provided to IEPF should be up-to-date and authentic. Any wrong entry or misleading information can hamper the process of tracing the shares and unclaimed funds back. If you have to update your address or prove the change of address, it is important to duly attest a copy of your PAN card along with an Affidavit with photography of shareholders that are completely notarized on a non-judicial stamp paper of RS 100/-

• When one has to claim the unpaid dividend of the shares held by the deceased shareholder from IEPF, they have to follow a different process and provide for the following. It is important to note that the legal heir/claimant has to go through the procedure of transmission of shares by attaching the following documents.

1. Need to present the letter for transmission of shares that is duly signed by all deponents and fully mention the complete address, contact no, email- id & bank details such as the bank name, branch address SB A/C No. MICR No. (9-digits code no.)
2. Affidavit & Indemnity bond

• III. Copy of death certificate duly attested

1. Legal heir certificate issued by competent authorities
2. Original share certificate
3. Signature Verification Certificate

• VII. No objection certificate (NOC) from all legal heirs who do not object to such transmission
• VIII. For the value of securities more than Rs. 2,00,000 (Rupees Two lakh only) copy of probated will/succession certificate/letter of administration (Hindi/English version) duly.

Everything takes time. It is not an easy task, the time taken for sending documents to RTO after filling the IEPF. Provided that in case of non-receipt of documents by Authority after the expiry of ninety days from date of filing FORM IEPF-5, Authority rejects the FORM IEPF-5. The claimant complete the response within thirty days.

An Indemnity Bond is a bond that has an oblige against loss that can arise as a result of failure for part of the principal to perform as required. The indemnity bonds enlist the number of shares/debentures in figures and the corresponding details to it. The indemnity bond must be signed by two witnesses and two sureties. In addition to this, the indemnity bond should document all the details about shares carefully. Take a look at the following document to understand the details needed in an indemnity bond.  

• https://www.dfpcl.com/wp-content/uploads/2017/04/Deed-of-indemnity-cum-surety-by-legal-heirs-for-transmission-of-shares-debentures.pdf