An Overview Recovery of Sun Pharma Share

Sun Pharmaceutical Industries Ltd., also known as Sun Pharma, was founded in 1983 with just five psychiatric illness-treating drugs. Mumbai, India, serves as the company's corporate headquarters. It was established in 1983 by Dilip Shangvi and started as a manufacturer of psychiatric drugs. Sales were previously restricted to West Bengal and Bihar, two states. In 1985, sales were made available nationwide. Cardiology-related items were first presented in 1987, and Monotrate—one of the first to be released—has since become one of the category's top sellers. Products for essential cardiology were added, and several were launched in India. In 1994, Sun Pharma went public on the major stock exchanges in India.

It is a global speciality pharmaceutical firm with operations in 30 markets. It also produces active medicinal components. Its medications are recommended in branded markets for chronic therapy in fields like respiratory, gastrointestinal, psychiatry, neurology, and psychiatry. In 1993, they built their SPARC research facility, building a foundation of solid product and process development skills. Additionally, several of its facilities have received USFDA and UK MHRA approval. There are 19 facilities producing APIs and dosage forms in Bangladesh, the US, Hungary, and India.

Sun Pharma increased its position in Caraco from 44% to over 60% in 2004 by purchasing ordinary stock and options from two significant shareholders for around $42 million. On a diluted basis, this share had grown to 75% by 2007. The USFDA, UK MHRA, South African MCC, Brazilian ANVISA, and Columbian INVIMA all give their permission to the formulation facility in Halol, India (the former MJ Pharma location). According to the BT Stern Stewart report, Sun Pharma is among India's top 20 wealth generators and the top three in the pharma industry. Jammu's formulation production facility has finished its construction. In Dhaka, Bangladesh, its first joint venture manufacturing facility is operated. This contemporary building has 25,000 square feet.

The definitive agreements between Sun Pharmaceutical Industries and Ranbaxy Laboratories, under which Sun Pharma would buy 100% of Ranbaxy in an all-stock deal, were made public in 2014.

What Are The IEPF And Its Purpose?

According to section 125 of the Companies Act of 2013, the Indian government structured the Investor Education and Protection Fund (IEPF) on September 7, 2016, as a regulatory framework to safeguard and control the fund of investors. The duties entrusted to IEPF include issuing refunds, recovering shares, matured deposits/debentures, and unpaid dividends, as well as raising investor awareness. Additionally, it guarantees that the depositors would be reimbursed for any legal costs incurred in bringing legal action.

Procedure for Recovering Sun Pharma Shares from IEPF

Any shares, unpaid dividends, matured debentures, or application money due for refund or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, or other property that has been transferred to the fund under section 124(6) or applied for a refund under section 125(3)(a), as applicable, may be subject to a claim.

The steps need to follow in order to retrieve Sun Pharma shares from IEPF.

Step 1: Completing The Application Form

Anyone whose shares, unclaimed dividends, matured debentures, matured deposits, the application of money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, etc., have been transferred to the fund may, as appropriate, claim the shares under section 124 (6) or apply for a refund under section 125 (3) (a). The claimant includes the following details in the electronic form:

Information about the applicant and the shares that will be claimed
Specifications of the Company Year-by-year information on securities and deposits
The Aadhar or passport/OCI/PIO card number should be used for NRIs or foreigners.
Information on the amount claimed
Information about the bank account (connected to an Aadhar number if the applicant is not an NRI or foreigner) where the claim reimbursement will be made.
The applicant submits the form to the Nodal Officer/Registrar of the corporation that is owing the money, along with the supporting evidence listed above.

Step 2: Providing the Company with the Claim

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

Printout of the IEPF-5 with the claimant's signature and the form filled out
Aadhaar card, evidence of eligibility
A duplicate of the acknowledgement bearing the SRN
Genuine stock certificates
Advance stamped receipt bearing the claimant's and witnesses' signatures
Original bond for indemnification bearing the claimant's signature
Copy of the client master list for a demat account.
A passport, OCI or PIO card, and cancelled cheque are proof of citizenship from India.

Step 3: Company's Submission of a Claim to the IEPF Authorities

Companies must put together a verification report and transmit it to the IEPF Authorities along with the claimant's supporting evidence within 15 days of receiving a claim form from a claimant.

Step 4: Payment to the Claimant from the IEPF Authority

After receiving the verification report from the pertinent business that approved the claimant's application, the IEPF Authority has 60 days to decide on the claimant's reimbursement request.

The IEPF Authority will issue a reimbursement sanction order once the claimant can access the shares with the competent authority's consent. The IEPF Authority and the authority's appropriate officer will issue a bill to the pay for payment after determining the claimant's eligibility. Credit for the shares or the total amount of the claimant's rights will be added to their Demat account.

Services Offered by Enterslice

Recovery of Shares from IEPF

After completing the MCA and IEPF procedures, shares transferred to IEPF that still need to be claimed may be recovered through the Recovery of Shares from the IEPF programme. From the application process to collecting payment from the IEPF, our team can offer end-to-end help.

Including help with Paper works
Filling in application forms and submitting Documents
Keeping the IEPF regularly updated on the application status.

We make the process for our clients to request payment for the unclaimed sum as straightforward as possible. An expert staff from Enterslice is available to advise you on the entire share recovery process. We provided the following services in this regard.

Transmission of Shares

The transmission of shares occurs when ownership passes from the original shareholder to the claimant or legal heir due to a death, insolvency, insanity, marriage, or any other statutory reason. The Documentwork includes an application for the transfer of shares from the legal heir, a copy of the death certificate if applicable of the original shareholder, a letter of administration, a probate of the will, a certificate of succession, a sample of the legal heir's or successor's signature, and a self-attested copy of the PAN.

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

A dividend is part of a company's profit that the board of directors distributes to shareholders as cash, stock, or another form.

The pay-out is given out annually and becomes an unclaimed dividend unless claimed after seven years.
For the following reasons, several 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 clients recover the IEFP dividend without legal issues.