Recover Infosys Shares from IEPF

With our expert guidance and timely support, you can recover your Infosys shares quickly. With our extensive variety of services, we promise a smooth and effective recovery process. Detailed Instructions on the process of recovering Infosys shares from the IEPF Professional assistance in the Docume..

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Overview:

Infosys, a worldwide consulting and IT services firm with more than 343k employees, was founded in 1981. We started with US$250 in capital and have expanded to an US$18.21 billion (LTM FY23 sales) firm with a market valuation of around US$72.35 billion. Globally, Infosys is a leader in consulting and next-generation digital services.

Infosys is a global information technology (IT) business headquartered in India that was established in 1981 by Narayana Murthy and a group of six engineers. The firm has offices and development centers all throughout the world, with its main office in Bangalore, India. Infosys offers clients in a variety of industries, including financial services, healthcare, retail, manufacturing, and more, a comprehensive range of IT services and consulting. Application development, data analytics, cloud computing, and cyber security are among its offerings. In addition, the business provides business process outsourcing (BPO) services.

One of the most successful and cutting-edge IT organizations in the world is known as Infosys. It is renowned for its emphasis on staff training and development, dedication to sustainability, and sense of corporate social responsibility.

What is IEPF?

Investor Education and Protection Fund is known as IEPF. It is a fund set up by the Indian government's Ministry of Corporate Affairs to advance investor education and safeguard foreign investors' interests. The IEPF was established in accordance with the terms of the Companies Act of 2013 and is currently run by the IEPF Authority, a statutory organization established by the Indian government. The Fund's primary purposes include compensating investors who have lost money as a result of corporate fraud or other wrongdoing and advancing investor education and awareness through various projects.

Companies are required by the Companies Act of 2013 to transfer unpaid dividends, matured deposits, and other sums to the IEPF after a specified amount of time if the investors do not claim them. The IEPF will also issue reimbursements to investors for any shares or unclaimed dividends that may be held in their names. To help investors in making wise investment decisions, the IEPF also runs a number of investor education programmes and awareness activities.

What is the purpose of IEPF?

The Investor Education and Protection Fund (IEPF)'s principal purposes are to safeguard Indian investors' interests and advance investor education and awareness. The Ministry of Corporate Affairs of the Indian government established the Fund to fulfil the following goals:

  1. To protect the interests of the investors:

The IEPF offers a mechanism for paying investors who have lost money as a result of unclaimed dividends, matured deposits, and other funds received by the Fund from businesses, and it uses them to help the impacted investors.

  1. To promote investor education and awareness:

To encourage investor education and awareness, the IEPF runs a number of investor education programmes and awareness campaigns that aim to assist investors in making wise investment decisions. The Fund intends to educate and mobilize the Indian investment community.

  1. To ensure compliance with corporate laws:

To make sure corporate regulations are followed, the IEPF Authority keeps an eye out for how the 2013 Companies Act's provisions regarding the transfer of unclaimed dividends, matured deposits, and other sums to the IEPF are being followed. This makes it easier to make sure businesses follow the law and safeguard the interests of their investors.

Benefits of Recovering Shares

  1. Financial Gains:Shareholders who recover lost or unclaimed Infosys shares might profit financially from dividend payments and future stock price increases. The value of a person's investment portfolio may rise as a result.
  2. Voting Rights:Ownership of Infosys shares also confers the power to vote on significant corporate decisions, such as the choice of board members and endorsement of mergers and acquisitions. Gaining back misplaced shares helps guarantee that shareholders have a vote in the direction of the business.
  3. Ownership in the Company: Shareholders who own Infosys stock also become owners of the business, giving them a stake in its success. Being a part of the business' expansion and success may inspire pride and happiness.
  4. Increased Transparency: A shareholder's investment portfolio may become more transparent if lost or unclaimed shares are recovered. Shareholders can betterunderstand their entire investment plan and possible returns by making sure that all shares are accounted for.
  5. Legal Protection: Finally, shareholders may be provided with legal protection by retrieving missing or unclaimed shares. Shareholders can safeguard themselves from potential fraud or legal challenges relating to their ownership in the firm bymaking sure that all shares are counted and properly registered.

 

Procedure for Recovering Infosys Shares from IEPF

  1. Completing Application Form

In the E- form, the claim includes the following details:

  • Information of Applicant
  • Details of Shares that are to be claimed
  • Information of the Company
  • Year-wise details of securities/deposits
  • Aadhaar Card Number
  • Passport/OCI/PIO Card No. 
  • Details of the amount which is claimed
  • Details of the Bank account of the applicant

The applicant must submit the completed form to the Nodal Officer/Registrar of the corporation that owes the money, together with the supporting evidence listed above.

  1. Submission of the claim to the company

The following paperwork should be sent to the company's IEPF Nodal Officer/Registrar together with the claim for a refund from the IEPF Authority:

  • Printout of the completed Form IEPF-5 with the claimant's signature and evidence of eligibility (Aadhaar card)
  • SRN number along with the acknowledgement (Copy) 
  • Genuine stock certificates
  • Advance stamped receipt, including the claimant's and witnesses' signatures
  • Original indemnification bond including the claimant's signature Copies of the customer master list for Demat accounts.
  • A passport, OCI or PIO card, and cancelled cheque are proof of citizenship from India.
  1. Claim submission by the company to IEPF authority

Companies have 15 days after receiving a claim form from a claimant to compile a verification report and present it to the IEPF Authorities together with the claimant's supporting evidence.

  1. Refund to the claimant by the IEPF Authority

The IEPF Authority has 60 days to decide on the claimant's reimbursement request after receiving the verification report from the relevant company that authorized the claimant's application. The IEPF Authority will issue a penalty order for the reimbursement calculated once the claimant has been given access to the shares with the competent authority's consent. The IEPF Authority and the relevant officer will send a bill to the pay and accounts officer for payment after determining the claimant's eligibility. The claimant will receive credit for the shares or the entire amount of their rights credited to their Demat account.

 

Services Offered By Enterslice:

  • Recovery of Shares from IEPF

The Recovery of Shares from IEPF seeks to recover shares that have been transferred to the Fund but have yet to be claimed. These shares can only be recovered once the MCA and IEPF processes have been completed. The services we can offer:

  • Support from start to finish, from making the application to being reimbursed back by the IEPF.
  • Including help with Paper works
  • Filling out application forms, submission of Documents
  • the regular update on the status of the application with IEPF

We strive to make the process as hassle-free as we can for our clients to request payment for unclaimed money. An expert team from Enterslice is available to advise you on the entire share recovery process. We provide the following services in this respect:

  • Transmission of Shares

The transmission of shares is the Act of transferring ownership of the shares from the original shareholder to the claimant or legal heir owing to death, insolvency, insanity, marriage, or any other legal justification. A letter of administration, a probate of the will, a succession certificate, a specimen of the legal heir's or successor's signature, a self-attested copy of the PAN, an application from the legal heir requesting the transfer of the shares, original shareholder's death certificate (certified copy), and other Documents are needed.

  • Transfer of Shares

The original shareholder gives the transferee their shares voluntarily in exchange for money. When shares are transferred, the obligation of the transferor, or the original shareholder, ends and is assumed by the transferee. The shares are transferred using the transfer Document

  • IEPF Dividend Recovery

In simple terms, a dividend is a percentage of the company's earnings that it distributes to the shareholders in the form of cash, shares, or any other form decided by the board of directors. Each year, the payment is made; if it is not claimed after seven years, it is transferred to the IEPF as an unclaimed dividend.

For the following reasons, a number of investors have neglected to claim their possessions:

  • Execution of a share transfer or transmission improperly
  • Missing shareholder information: shares of a bonus that have not yet been claimed

Our staff provides qualified assistance to help our clients recover the dividend from IEFP without encountering any legal issues.

Frequently Asked Questions

The Indian government established the Investor Education and Protection Fund (IEPF) to safeguard the interests of investors.

By visiting the IEPF's website and conducting a name search in their database, you can determine whether you have any unclaimed shares.

A claim form must be submitted along with supporting Paper works, such as identification and share ownership verification, in order to obtain shares from the IEPF.

It takes around one month to one year to claim the shares from IEPF.

A corporation must send any funds that have been in the Unpaid Dividend Account for seven years, along with any interest that has accrued, if any, to the Fund in accordance with section 124(5) of the Act, 2013.

A temporary suspension of property rights results from the transfer of shares to IEPF. Given that there is a clause allowing the shareholders to reclaim their shares, it appears from the IEPF that it is the custodian of the shares. Thus, it cannot be stated that the shareholder loses ownership of the company.

You are the legitimate owner of the shares; you can claim any shares that the firm has transferred to the IEPF.

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