Recovery of Shares

How to Recover Lost Shares of Bank of Baroda from IEPF?

Recovering lost shares of Bank of Baroda from the Investors Education and Protection Fund involves a structured process. The shareholders must ensure that the shares meet the eligibility criteria specified by the IEPF guidelines. Next, they must complete the required forms accurately and submit them to the IEPF authority to recover the lost shares of Bank of Baroda. Following each step diligently is essential to facilitate a smooth recovery process.

Know About Bank of Baroda

Bank of Baroda was founded in 1911. It currently commands a share price of Rs 180.55 and a market capitalization of Rs 93,860.22 crore. In its latest quarter, the bank reported robust gross sales of Rs 698,807.8 crore and total income of Rs 813,647 crore. The shares of the Bank of Baroda are listed on the BSE and NSE.

Also, to prevent the shares from falling under the ambit of IEPF authority, the Bank of Baroda issued a notice to shareholders in 2019 stating that according to Section 10B of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970, unclaimed dividends declared by the Bank of Baroda are due for transfer to the IEPF account then the shareholders who have not claimed their dividends are urged to submit their claims to the Registrar and Transfer Agent to avoid the transfer of their shares to the IEPF.

But suppose the shares are transferred to the IEPF. In that case, the investors can claim from the  Investors Education and Protection (IEPF), and it was established to facilitate the return of shares, unclaimed dividends, matured deposits, debentures and other assets to investors. These initiatives aim to address the significant amount of unclaimed funds with help from various companies and financial institutions. Under IEPF provisions, investors cannot directly reclaim shares, unpaid dividends, matured deposits or debentures from the firm or financial institutions if these assets have been transferred to the IEPF.

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Verify the Eligibility of the Lost Shares of Bank of Baroda

Before proceeding, the shareholders must determine if their shares are eligible for recovery through the IEPF. The IEPF manages shares and dividends that have remained unclaimed for seven years or more. Then, the shareholder needs to assemble the necessary documents and follow the following steps such as:

1. Proof of Ownership

The share certificate, dividend warrants or any other relevant documents demonstrate the lost shares’ rightful owner.

2. Personal Identification Documents

The personal identification documents include a passport, PAN cards, and Aadhar cards.

3. Bank Account Information

To get a refund, whether on a Demat or bank account, the shareholder needs to provide the bank name, branch, and account number.

4. Visit the IEPF website.

To initiate the recovery process, the shareholder needs to visit the official website of IEPF and look for the section dedicated to reclaiming dividends and shares.

Steps to Recover Lost Shares of Bank of Baroda from IEPF

To perform recovery of shares from the IEPF of Bank of Baroda and for a refund of unclaimed dividends from the IEPF, the shareholders need to follow these steps:

1. Register with IEPF

The shareholders need to visit the IEPF official website and register for an account.

2. Complete the Online IEPF-5 Form

The shareholders need to log in to the IEPF account and fill out the new online IEPF-5 form with the required details.

3. Attach the Necessary Documents

The shareholders must scan and upload copies of all the required documents and the IEPF-5 Form.

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4. Copy of Receipt

After submitting the form, the shareholders need to go to the IEPF website and generate the receipt.

5. Submit Original Documents

The shareholders must send all original documents, including the receipts and indemnity bonds, to the company’s registered address.

6. Company E-verification

The company will verify the claim within 30 days of receiving the documents.

7. IEPF Refund

Based on the verification reports provided by the company, the IEPF will process and refund the amounts to the Demat account or credit it to the bank account provided by the shareholders.

Projecting the Future Price of Bank of Baroda Shares

Bank of Baroda, a company listed on stock exchanges, performs modestly without earning massive profits. It has shown a steady performance, resulting in gradual increases in share prices, which fluctuate frequently. There has been a slight dip in its share prices recently, but predictions indicate recovery in the coming years with eventual growth. The company’s performance in the financial sector is comparatively stronger than its stock exchange performance, making it a profitable entity.

The forecast suggests a steady price rise from 2024 to 2030, indicating a positive market outlook. Below are the future prices projected for the shares of the Bank of Baroda:

YearsMaximum Target Price (Rs)Minimum Target Price (Rs)
2024306.42265.09
2025329.33323.66
2026349.59347.6
2027374.86373
2028401.39399.53
2029429.3427.34
2030462.35456.63

Key Consideration Before Investing in Bank of Baroda

The investors need to consider the following points before investing in the shares of Bank of Baroda such as:

  • Invest according to the financial capacity and avoid over-investing for investment purposes.
  • Examine the company’s financial statements, profits and loss statements, financial ratios, and expenses ratios, which are available on the official website.
  • Be mindful of all potential risks both before and after investing.
  • Check the category, type, returns and availability of funds the investors are considering for investment.
  • Review the tax implications on the shares, as they can change with each financial year.
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Conclusion

Investors looking to recover lost shares of Bank of Baroda from IEPF should ensure eligibility and submit necessary documents accurately. The process involves registering with the IEPF, completing the IEPF-5 Form and verifying the details for a smooth refund process. Considering the projected future price trends and key investment considerations can help make an informed decision about investing in the shares of the Bank of Baroda.

FAQ’s

  1. How do the shareholders get to know about the eligibility for recovery from IEPF?

    The shareholders determine the eligibility of the share if it has been unclaimed for seven years or more by visiting the official website of IEPF.

  2. What documents are required to recover lost shares of Bank of Baroda from IEPF?

    The individual must submit documents such as a share certificate, dividends warrant, passport, Aadhar card, PAN card and bank account details. 

  3. What happens if the shares of the Bank of Baroda are transferred to IEPF?

    If the shares are transferred to IEPF, the shareholder can reclaim them by following the procedures.

  4. What should an individual consider before investing in Bank of Baroda shares?

    The individual needs to consider the financial capacity, review the company’s financial statements, understand the risk involved, evaluate fund types and returns and be aware of tax implications.

  5. Are any fees involved in reclaiming the Bank of Baroda shares from IEPF?

    Generally, processing and verification involve nominal fees. These fees vary and should be checked on the IEPF website or with authorized agents.

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