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How to Recover Lost Shares of Adani Power Limited from IEPF?

Recover Lost Adani Power Limited Shares

Adani Enterprise Limited is a prominent conglomerate engaged in various sectors, including power generation, coal trading, infrastructure development, renewable energy, agribusiness, and defence. Adani Enterprises Limited has been publicly traded and listed on Stock Exchanges since 1994. However, if the individual lost their shares of Adani Enterprises Limited or Adani Power Limited, they can reclaim them from the IEPF. This blog offers a guide on the recovery of shares from IEPF.

Overview of the Investors Education and Protection Fund (IEPF)

The Ministry of Corporate Affairs established the Investor Education and Protection Fund under section 125 of the Companies Act, 2013, which promotes investors’ education, awareness, and protection of their funds. Companies must transfer any unclaimed or unpaid dividends and corresponding shares for seven consecutive years to the IEPF. The IEPF authority then holds these shares on behalf of the original shareholders for investors who are entitled to reclaim these shares by following the prescribed procedures.

What is the Future Pricing Prediction for Adani Power Shares?

Adani Power Shares have shown a strong performance in recent years, and several factors suggest that this trend could continue. The analyst predicts that the share prices will likely increase in the coming years due to ongoing developments and expansion plans in the power sectors. Below is the year’s distribution of the price target of Adani Power Shares:

YearsMaximum Target Price (Rs)Minimum Target Price (Rs)

Reason for Transferring the Adani Power Shares to the IEPF

Regardless of the reason, the individual is entitled to file a claim for recovery of shares from the IEPF Authority by filing a claim according to the prescribed procedures. According to the IEPF regulations, if dividends on the Adani Power Shares remain unpaid or unclaimed for seven consecutive years or more, then this share will be transferred to the IEPF Authority. Shareholders commonly lose track of their shares of Adani Power Limited for several reasons, including:

  • By failing to update their correspondence address after purchasing the shares.
  • By keeping shares in physical form instead of converting them to dematerialization form.
  • By not claiming dividends.
  • By providing incorrect bank details.
  • Disputes over the title of shares.

Documents Required to Reclaim Adani Power Shares from IEPF

To reclaim or recover the Adani Power shares from IEPF, the individual must provide the following documents such as:

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1.    Submission of IEPF-5 Form

This serves as the main application document, encompassing multiple declarations and submissions required from the claimant. It necessitates digital or physical signatures where applicable.

2.    Acknowledgement Slip Copy

Once the individual uploads the fully completed IEPF-5 Form onto the MCA portal for processing the recovery of shares, they will obtain an acknowledgement slip which serves as evidence of the claims filing and must be submitted accordingly.

3.    Indemnity Bond

The individual is required to complete and submit an indemnity bond, confirming that they have not engaged in selling, gifting or pledging the shares being reclaimed from the IEPF after their losses. This bond indemnifies the IEPF authority and the company against potential future disputes.

4.    Advanced Stamped Receipts

This document confirms the receipt of claims shared in anticipation of their crediting to the individual’s demat account. Therefore, the advanced stamped receipts must be properly signed and stamped.

5.    Identity Proof

The individual needs to submit proof of identity such as an Aadhar card, PAN, passport, etc.

6.    Share Certificate

To establish ownership, you need the share certificate or the share certificate numbers, copies of dividend receipts, etc.

7.    Bank Details

The individual must submit the bank details to receive the unpaid or unclaimed dividends.

Steps to Recover Lost Shares from IEPF of Adani Powers Limited

Following are the steps to file the IEPF-5 Form and reclaim the shares of Adani Power Limited:

Step 1: Check Eligibility

Before beginning the claim process, the individual must ensure their eligibility to recover the shares from IEPF. The eligible shareholders include:

  • Those who have not claimed their share for seven consecutive years.
  • Those who have not sold, pledged, or gifted their shares.
  • Shares which have been transferred after being declared unclaimed or abandoned by the company.
  • Legal heirs or successors of the deceased shareholders.

Step 2: Gather Necessary Documents

To claim the shares, the individuals need to gather the following documents such as:

  • A copy of PAN card.
  • A copy of the Aadhar Card
  • Cancelled Cheques or Bank statements
  • Proof of share ownership such as share certificate or demat statements.

Step 3: Fill out an IEPF-5 Form

The individual needs to fill out an IEPF-5 Form as an application to recover the shares from IEPF:

  • Go to the MCA portal to fill out the IEPF-5 Forms to proceed with the applications.
  • If the individual is a first-time user, choose Register Yourself as Investor or Claimant, or click on the existing user directly to track the application.
  • Upload the necessary documents such as indemnity bond, share certificate, or various other required documents as required.
  • Carefully fill in all the required details in the IEPF-5 Form and submit the form with digital or electronic signatures.
  • Submit the application fees to complete the form submission process.
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Step 4: Verification of Claims

Then, the claim form and documents will be processed by the IEPF Authority and sent for company verification.

Step 5: Receive the Refund

Upon successful verification, the claimed amount will be credited directly to the individual’s bank accounts, or the shares will be credited to the individual’s Demat account once they are approved.

Can Unpaid Dividends on Shares Be Claimed?

When reclaiming the Adani Power Limited Shares from the IEPF Authority, the individual can also apply for the recovery of the unpaid dividends of the past seven years. The IEPF-5 Form includes a separate schedule detailing the amount of the dividends pending transfer in the individual’s name, which can be claimed through the filing of the same application form.

The IEPF authority cross-checks unpaid dividend details through the company records before authorizing the fund transfer to an individual’s bank account. During the completion of the IEPF-5 Form, individuals are required to furnish cancelled cheques and bank details so that after the successful transfer of shares to the individual’s demat account, the unclaimed dividend amounts will also be transferred electronically.

Can Adani Power Shares Recover after Transfer to IEPF?

According to the recent amendments by the MCA, shareholders or investors can reclaim their shares transferred to the IEPF after seven years from the transfer date because after the seven-year period expires, the remaining amounts are transferred to the IEPF. Since the Adani Power Limited Shares were transferred to the IEPF because of unpaid dividends, the individual can also file a claim for recovery of shares from the IEPF.

The documents and application process will be the same as outlined previously, regardless of the time. The same rule will apply to all IEPF claims, whether for listed or unlisted companies in India, regarding unpaid dividends.

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Does an Individual Recover Shares for their Deceased Relatives?

The recovery of shares from IEPF also allows legal heirs to recover shares of their deceased relatives. Therefore, even if the original investors have died, the legal heirs with the proper documentation can file a claim with the IEPF authority to recover the rightful shares transmitted to them.


In conclusion, recovering lost shares of Adani Power Limited from the IEPF is a structured process facilitated by adhering to the guidelines set forth by the Ministry of Corporate Affairs. By following the outlined steps and providing the requisite documentation, investors can efficiently reclaim their shares and any accrued dividends.


  1. Are there deadlines for claiming shares from IEPF?

    There is no deadline for claiming shares from IEPF.

  2. Can an individual recover shares as a legal heir of a deceased shareholder?

    Yes, a legal heir of a deceased person can recover a share of the deceased person by submitting a succession certificate or required documents to prove a relationship and the deceased's death certificate.

  3. How much time will it take to recover the lost shares of Adani Power from IEPF?

    It will take 2-3 months to recover the shares of Adani Power from the IEPF process.

  4. How much money does the IEPF hold presently?

    The IEPF is holding around Rs 14,000 crore s of the unpaid dividends of the investors.

  5. Does the individual reclaim the lost shares after losing the share certificate?

    Yes, the individual can reclaim the shares after losing the share certificate.

  6. Can an individual reclaim the dividend amounts along with reclaiming shares?

    Yes, while filing out the IEPF-5 Form to reclaim shares, the individual can also include the details of the unpaid or unclaimed dividends related to those shares.

  7. Does the individual track their recovery of shares from IEPF status?

    Yes, the individual will track the status by logging in to the MCA portal.

  8. How does an individual find out if some of their shares have been transferred to the IEPF?

    The individual can check it from the company’s website or contact the Registrar and Transfer Agent.

  9. What is IEPF?

    The Investor Education and Protection Fund was established by the Ministry of Corporate Affairs under section 125 of the Companies Act, 2013, which promotes investors' education, awareness, and protection of their funds.

  10. Which form is required to fill in to recover the shares from IEPF?

    The IEPF-5 Form must be filled out to recover the shares from the IEPF authority.

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