Overview Recovery of Tata Steel Shares from IEPF

Tata Steel is a part of the Indian- based Tata Group, a global conglomerate. Its original name, the Tata Iron and Steel Company, was established in 1907 and is where its roots may be. Tata Steel is present all over the world and conducts business in more than 26 nations, including, among others, India, the UK, the Netherlands, Singapore, Thailand, and Australia. The corporation puts great emphasis on development, and to promote innovation and product development, it has set up various innovation centres in Europe and India. Tata Steel has also received praise for its initiatives to advance worker welfare and has been listed among Forbes' Top 100 Best Companies to Work For.

In the fiscal year that concluded on March 31, 2020, the group had a combined turnover of $19.7 billion, excluding SEA activities. According to Great Place to Work, Tata Steel is among the best manufacturing workplaces in India for 2022. According to the May 2, 2023 release, the dividend distribution was 360%.

What is Investor Education and Protection Fund?

The government of India establishes Investor Education and Protection Fund in accordance with the 2013 Companies Act. The major goals of the IEPF are to safeguard investment interests and advance investor education and awareness. The IEPF is crucial for safeguarding investors' rights and advancing accountability and transparency.

What kinds of funds are sent to the IEPF?

The financial assets listed below get locked with the IEPF if not claimed in a timely manner.-

• Unclaimed dividends and shares
• Debentures with unclaimed investments and interest owed on them
• Unrealized interest from a company's matured time deposits

Common mistakes that hamper the recovery of shares

• Corporate operations, including mergers, acquisitions, and stock splits, are frequently carried out by businesses. An investor's shares may be transferred to the IEPF if they do not reply to these activities or do not assert their rights within a specific period.
• Investors fail to maintain their contact information with the Company; shares frequently transfer to the IEPF. This can occur if a shareholder forgets to notify the business after moving to a new address or changing their phone number or email address. The Company won't be able to contact you.
• Shareholders who experience problems like physical damage to or loss of their share certificates-which were held in physical form before the advent of electronic certificates-may find it difficult to recover their shares.
• Investors may also encounter difficulties reclaiming their shares if there are any inconsistencies in the signatures on their necessary papers, which could raise questions about the legitimacy of the transfer.

Procedure for Recovering Shares from IEPF

1. Completing the application, form

A person has the right to claim their shares if they have unclaimed dividends, matured deposits, matured debentures, or other financial instruments transferred to the Fund. This can be achieved by the use of an e-form that includes the applicant's identity, details of the shares to be claimed, corporate information, and year-by-year data of the securities or deposits. If the applicant is a non-resident Indian or a foreigner, they must supply their Aadhaar Number or Passport/OCI/PIO Card No. The form also asks for the amount claimed and the bank account where the refund will be deposited. After completing the form, the applicant must send it, along with the required evidence, to the Nodal Officer or the Registrar of the corporation that owes the money.

2. Submitting the Claim to the Company

To file a refund claim with the IEPF Authority, the following Paper works must be presented to the Company's IEPF Nodal Officer/Registrar:

• Printout of the completed Form IEPF-5, signed by the claimant: The application form for seeking a refund from the IEPF Authority is Form IEPF-5. The claimant must fill out the form completely and sign it.
• Aadhaar card, evidence of eligibility: As proof of identification and entitlement, the claimant must present a copy of their Aadhaar card.
• Copy of the acknowledgement with the SRN number: After filing the claim to the IEPF Authority, the claimant must give a copy of the acknowledgement received. The SRN (Service Request Number) should be included in the acknowledgement.
• Original share certificates: In order to show ownership of the shares, the claimant must present the original share certificates.
• Advance stamped receipt: The claimant must present an advance stamped receipt with their signature and the signatures of two witnesses. The receipt should state that the claim papers have been received by the Company's IEPF Nodal Officer/Registrar.
• Original indemnification bond signed by the claimant: The claimant must present an original indemnity bond signed by them. The indemnity bond is a legal commitment that the claimant will compensate the corporation for any damages suffered as a result of the claim's payment.
• Copy of client master list from Demat account: If the shares are stored in a Demat account, the claimant must supply a copy of the client master list to show ownership of the shares.
• Passport, OCI or PIO card, and a cancelled cheque: If the claimant is a non-resident Indian, they must give a copy of their passport or OCI/PIO card as evidence of identification, as well as a cancelled check to verify their bank account information.

The claim will be handled by the IEPF Authority after all needed Paper works is presented to the Company's IEPF Nodal Officer/Registrar. The reimbursement will be deposited into the bank account specified on the claim form.

3. Claim submission by Company to IEPF authority

The relevant Company has a total of fifteen days from the moment they receive the claim form to complete a verification report and transmit it along with the claimant's supporting Paper works to the IEPF authorities.

4. Refund to the claimant by the IEPF

The IEPF Authority is obligated to respond to the reimbursement request within 60 days after receiving the verification report from the relevant business that approved the claimant's application. If the claimant is permitted to access the shares, the IEPF Authority will determine the reimbursement penalty and issue an order in accordance with its findings. The IEPF Authority and the appropriate officer will create a bill for payment once the claimant's eligibility has been confirmed, and they will send it to the pay and accounts officer. Following payment, the claimant's Demat account will be credited with the shares or the total amount of their rights.

Services offered by Enterslice

As a team of skilled specialists, we offer end-to-end assistance in recovering shares from the IEPF, which includes reclaiming shares that have been given to the IEPF but are unclaimed. Our staff is dedicated to making the MCA and IEPF procedures as straightforward and stress-free as possible for our customers because we recognize that they may be overwhelming.

Assisting with necessary papers, submitting application forms, and routinely checking in with the IEPF on the status of the application are all part of our services. We are committed to providing you with the best possible service, and we have the knowledge to guide you through the whole process of recovering shares.

Along with share recovery, we also provide share transmission services, which entail transferring ownership of shares from the original shareholder to the claimant or legal heir for a variety of legal justifications. Our staff of qualified experts can help you put together the necessary paperwork, including a certified copy of the original shareholder's death certificate, a letter of administration, a probate of the will, and a certificate of succession, among other things.

In addition, we provide services for the willing transfer of shares from the original shareholder to the transferee in exchange for payment. We are familiar with the complicated legal issues surrounding this procedure, and we can offer you professional guidance and help with the transfer of shares.

Last but not least, we also provide IEPF dividend recovery services, which entail the retrieval of unclaimed payouts that have been forwarded to the IEPF. We recognize that a number of factors, including poor share transfer or transmission execution and inaccurate shareholder records, may prevent investors from collecting their assets. You may get help from our team of experts to get your IEPF dividend back without having to deal with the judicial system.

At our Company, we are dedicated to giving our clients the best possible service and seeing to it that their demands are satisfied with the utmost professionalism and knowledge. All of our communications are guaranteed to be free of plagiarism, and we strive to give our clients the greatest results.