Recovery of Shares

Recover Lost Shares of Yes Bank Limited from IEPF

Many people invest in shares and forget to claim them or let them expire before claiming them. As a result, the money often remains unclaimed for many years. To address this, the Ministry of Corporate Affairs established the IEPF to ensure that unclaimed shares can be transferred to and retrieved by the rightful owners.

Shareholders of a company can claim a refund of their unclaimed shares through the recovery of shares from IEPF that the company has transferred under the provisions of Section 124 of the Companies Act, 2013, and the Investor Education and Protection Fund Rules, 2016. However, the claimant needs to check the IEPF records to verify that Yes Bank Limited shares have been transferred to the IEPF.

Yes Bank Limited: Leading the Charge in Financial Innovation

Yes Bank Limited, India’s sixth-largest private sector lender by assets, is seeking a new promoter and plans to sell up to 51% of its stake, aiming for a valuation of $ 8 to 9 billion, a substantial increase from its current market capitalization of $7.2 billion. The bank has reached out to various Indian lenders, including existing shareholders, and initiated discussions with financial institutions.

Any new promotion with over a 26% stake will require special approval from the RBI. This stake sale offers an opportunity for major shareholders like SBI, LIC, HDFC Bank Ltd., and ICICI Bank Ltd., who helped rescue Yes Bank in 2020. Post-ownership change, Yes Bank Limited has shown financial improvements, increased deposits, and safer lending practices, though loan quality perception continues to impact the potential deal.

Yes Bank consistently rewarded its investors and shareholders by creating value across various segments, including corporate banking, retail and small business banking, and financial capital markets. However, even promoting investments can sometimes get misplaced, so recover lost shares of Yes Bank Limited from IEPF.

What is the Process for Recovering Lost Shares of Yes Bank Limited from IEPF?

Below is the process of recovering lost shares of Yes Bank Limited from IEPF such as:

Ø Filing a Claim with the Authority

A Yes Bank Limited shares claimant can receive a refund by submitting Form IEPF -5 on the MCA Portal. The following information must be provided: the claimant’s details, information about the company, CIN number, details of the shares being claimed, passport for the foreigners, bank account details, and demat number.

Ø Submitting the Claim to the Company

After submitting the IEPF-5 Form, the claimant will send a copy of the form, labelled “Claim for Refund from IEPF Authority,” to the Registrar along with the required documents, such as a printout of the filled IEPF-5 Form, a copy of the acknowledgement with the SRN number, the original indemnity bond, the original share certificate, interest warrant applications, and cancelled cheques.

Ø Submission of the Claim from the Company to the IEPF Authority

The company must prepare a verification report within 15 days of receiving the claim form and submit it to the IEPF authorities along with the claimant’s documentation.

Ø Refund from the IEPF Authority to the Claimant

The IEPF Authority will assess the claimant’s application or refund within 60 days of receiving the verification report from the company. If the claimant is entitled to the shares, the IEPF Authority will issue a refund sanction order with the approval of the competent authority.

Why do Yes Bank Limited Shares go Unclaimed or Get Lost?

To avoid unclaimed shares, an investor should keep their below-provided information up to date and correct and respond promptly to communications from companies and regulatory bodies:

1. Change of Address

Shareholders who fail to update their address with the company or Registrar may miss communication about dividends and corporate activities.

2. Deceased Shareholders

Unclaimed shares often arise when legal heirs or beneficiaries are unaware of their inheritance.

3. Non-receipt of Dividends

Dividends may go unclaimed if shareholders don’t cash dividends warrants or provide bank details for direct credits.

4. Inactive Accounts

Dormant or inactive demat accounts can lead to unclaimed shares

5. Transfer of Ownership

Shares transferred without proper documentation or follow-up may not be claimed.

6. Corporate Changes

Mergers, name changes, or reorganizations can cause shareholders to lose track of their investments.

7. Regulatory Changes

New laws, regulations, or compliance standards can create confusion and compliance with the claiming process.

8. Non-response to Notices

Shares may be deemed lost if owners do not respond to corporate or regulatory notices.

9. Inherited Shares

Shares inherited without necessary documentation or legal procedures can remain unclaimed.

10. Lost or Damaged Certificate

Loss, damage, or misplaced physical share certificates may result in unclaimed shares.

Predicting the Future Price of Yes Bank Limited Shares

This discussion examines the projected share prices of Yes Bank Limited from 2024 to 2030, beginning with the current price of Rs 28.90. Over the coming year, Yes Bank stock on NSE is expected to provide stability for its investors. The bank has resolved its significant non-performing assets issue and is projected to maintain a positive share price range and growth rate.

The bank has gone through various phases throughout its history, with significant growth in its share prices. Below are the share price targets of Yes Bank Limited from 2024 to 2030.

Years	Maximum Target Price (Rs)	Minimum Target Price (Rs)
2024	24.10	20.40
2025	35.50	24.22
2026	41.13	35.60
2027	52.50	41.93
2028	61.70	52.90
2029	67.70	62.25
2030	80.00	67.70

Conclusion

In conclusion, recovering lost shares of Yes Bank Limited from IEPF is a structured process to ensure the rightful owners can reclaim their investments. Yes Bank Limited, despite past challenges, shows promising future growth and projected share price stability. Investors should stay informed, keep their information updated, etc., and follow the proper process of claiming the lost shares of Yes Bank from IEPF, which helps to initiate a refund from the IEPF Authority.  

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