An Overview Recovery of Titan Company Share

1984 the Tata Group and Tamil Nadu Industrial Corporation formed Titan Industries as a joint venture. When Titan Company presented its cutting-edge quartz technology, combined with international style, the Indian watch market underwent a fundamental leap. Titan Company is the world's fifth integrated own-brand watch manufacturer and one of India's most recognisable and well-liked brands, Tanishq and Titan. The Titan Company has also entered the eyewear market, providing consumers various unique items, including frames, lenses, contact lenses, and accessories. International brands like Levi's, Esprit, Hugo Boss, and others, as well as house names like Titan, Eye+, and Dash, a selection for kids, are all available.

By utilising its manufacturing expertise, the business has expanded into precision-engineered components, machine building and automation solutions, tooling solutions, and electronic sub-assemblies. With approximately 1040 retail locations spread across 1.4 million square feet of carpet. The largest retail network in India belongs to Titan Company, and it spans over 220 towns. The business operates over 150 Fastrack stores and 370 unique "World of Titan" showrooms. Additionally, it has a vast network of more than 740 after-sales service locations.

The largest jewellery retailer in India is Titan Company, which operates more than 160 Tanishq boutiques, two Zoya shops, and more than 30 Gold Plus stores. Furthermore, it has more than 270 Titan Eye+ outlets. Additionally, the business sells Skinn Brand scents and other personal goods like purses, belts, wallets, and, most recently, perfumes. Over 150 million watches have been sold by the firm globally, and more than 15 million are produced annually.

With the help of a licence for high-end fashion watches from international companies, Titan Company continued its pioneering work and introduced foreign names to the Indian market. Titan Company is responsible for the presence of brands, including Tommy Hilfiger, FCUK, Timberland & Police, and the Swiss watch Xylys in the Indian market.

Tanishq received the coveted "Effie Award" in 2011. The "The Brand Trust Report, India Study, 2011" evaluated 16,000 brands across nine cities, and TITAN came in at number 10. Titan continued to be included in Forbes Asia's FAB 50 companies list for 2013.

Regulatory Provisions Related to IEPF:

According to the MCA's 2017 Investor Education and Protection Fund (IEPF) Authority Rules, "any money transferred to the Unpaid Dividend Account of a corporation which remains unpaid for a period of seven years (seven years and additional 37 days from the date of declaring dividend) from the date of such transfer shall be transferred by the corporate alongside interest accrued, if any, to IEPF."

The Investor Education and Protection Fund Authority (Audit, Accounting, Transfer, and Refund) rules were later revised by MCA through Second Amendment Rules, dated August 14, 2019, and became effective after September 20, 2019. Even in the second amendment, it was stated that the corporate/organisation/company should transfer all Shares in the name of the IEPF authority if the dividend has yet to be paid or claimed for seven consecutive years. Shares of people that had lain dormant for seven years have been transferred in recent months under the name of the Investor Education and Protection Fund. The main challenge for an average investor is figuring out how to retrieve such shares in their name from the IEPF quickly. As the text progresses, we'll review the entire procedure for reclaiming lost Titan watches shares.

Procedure for Recovering Titan Company Shares from IEPF

Any shares, unpaid dividends, matured bonds, application money due for refund or interest thereon, proceeds from the sale of fractional shares, proceeds from the redemption 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 the subject of a claim.

Follow these steps to get your Titan company shares back from the IEPF.

Step 1: Completing The Application Form

Any person whose shares, unpaid dividends, matured debentures, deposits, application of money due for a refund or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, etc., have been transferred to the fund may, as appropriate, make a claim for the shares under section 124 (6) or make an application for a refund under section 125 (3) (a). In the electronic form, the claimant includes the following information:

• Detailed information on the applicant and the shares being claimed:
• Information about the Company information on securities and deposits over time:
• The Aadhar, passport, OCI, or PIO card number should be utilised for NRIs or foreigners.
• Information on the bank account where the claim reimbursement will be made (linked to an Aadhar number if the applicant is not an NRI or foreigner).
• Along with the above-mentioned supporting Paper works, the applicant submits the form to the Nodal Officer/Registrar of the business that is due the money.

Step 2: Delivering the Claim to the Company

When submitting a request for a refund from the IEPF Authority, the following necessary papers must also be delivered to the Company's IEPF Nodal Officer/Registrar:

• A printout of the IEPF-5 bearing the claimant's signature and the completed Aadhaar card is proof of eligibility.
• A duplicate of the acknowledgement carrying the SRN Genuine stock certificates.
• A stamped advance payment receipt with the claimant's and the witnesses' signatures.
• Information regarding the claimed sum
• Original bond for indemnification with a copy of the client master list for a demat account and the claimant's signature.
• A passport, OCI or PIO card, and a voided cheque indicate Indian nationality.

Step 3: A Claim Submitted By the Company to the IEPF Authorities

Within 15 days of receiving the application, the complainant must compile a verification report and submit it to the IEPF Authorities along with the claimant's supporting Paper works.

Step 4: Payment from the IEPF Authority to the Claimant

The Authority has about 60 days to decide on the claimant's reimbursement request after obtaining the verification report from the relevant Company regarding the claimant's application.

A sanction order will be issued by authority and claimant is permitted with the access to the shares with the competent authority's approval. After verifying the claimant's eligibility, the IEPF Authority and the nodal officer will send a bill to the pay and accounts officer for payment. The claimant's Demat account will receive credit equivalent to the value for the shares or the total value of their rights.

Enterslice Offers a Range of Services

Recovery of Shares from IEPF

Shares recovered through the Recovery of Shares from the IEPF programme when the MCA and IEPF procedures have been completed. Our staff can provide end-to-end assistance, from the application process to receiving money from the IEPF.

Including Help with necessary paperation

Regularly check the application status after completing the form and necessary paper submission before the IEPF Authority.

We try to make this procees as simple as possible for our clients to request payment for the unclaimed amount. You can get assistance from Enterslice's knowledgeable personnel throughout the complete share recovery procedure.

Transmission of Shares

When ownership transfers from the original shareholder to the claimant or legal heir due to a death, insolvency, insanity, marriage, or any other statutory reason, the shares are transmitted. An application for the transfer of shares from the legal heir, a certified copy of the original shareholder's death certificate, a letter of administration, a will's probate, a certificate of succession, a sample of the signature of the legal heir's or successor's , and a self-attested copy of the PAN are among the required necessary papers.

Transfer of Shares

The original shareholder voluntarily transfers their shares to the transferee in exchange for cash. When shares are transferred, the original shareholder's (transferor) obligation ends and is taken over by the transferee. The transfer necessary paper is used to transfer the shares.

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 payout is given out annually and becomes an unclaimed dividend unless claimed after seven years.
• For the following reasons, several investors still need to claim their possessions.
• Execution of a share transfer or transmission improperly
• Missing shareholder information shares of a bonus still need to be claimed.
• Our staff provides qualified assistance to help clients recover the IEFP dividend without legal issues.