SEBI issues a Call for Information Notice regarding Unclaimed Non-Convertible Securities

On 06th September 2022, the Securities and Exchange Board of India (SEBI) issued a Public Notice concerning the submission of information pertaining to “Unclaimed Non-Convertible Securities”. The notice was issued for entities which do not fall under the definition of “Company” under the Companies Act, 2013 and the Rules made thereinafter.

The Market Regulator, SEBI, has demanded from all issuers of the Listed Non-Convertible Debentures (NCDs) entities to disclose the quantum of unclaimed interest, dividends and principal lying with them. SEBI requires seeking such information from NCD issuers as the listing agreements require them to transfer all unclaimed amounts owned by the entities
for over seven years to the government’s Investor Education & Protection Fund (IEPF).