An Overview of Recovery of TCS Shares IEPF

In 1968, Tata Computer Systems (TCS) was established. The business opened a software research and development centre in Pune, India, in 1980. When the IPO was issued in August 2004, and the business was listed on the NSE and BSE, TCS's journey in the stock market officially began.

Tata Consultancy Services (TCS) is India's second most valuable corporation. It is the nation's most well-known information technology company and the Tata Group's most lucrative business. In addition to these accomplishments, TCS has given thousands of people jobs inside and outside India. When a business succeeds rapidly, stockholders also stand to gain significantly.

Since its IPO in 2004, the TCS Share Price has grown 29 times.

In the previous ten years, TCS has distributed dividends worth over 500 rupees for each share.

Over the past 15 years, the average returns have been substantially increased.

Significance of IEPF

The Indian government established the IEPF, or Investor Education and Protection Fund, to safeguard investor interests and advance investor education. Tata Consultancy Services (TCS) and other financial market segments benefit greatly. The IEPF was established by the Companies Act of 2013 to ensure that unclaimed dividends, matured deposits, and other investor monies are safeguarded and used to their advantage. Unclaimed monies are transferred to the IEPF when shareholders of a corporation fail to collect their entitlements, such as dividends, within a given time frame.

If there are any unclaimed dividends or other rights about TCS shares, they may be given to the IEPF. Such transfers become available to shareholders who have not been available for seven years without claiming dividends or other perks. The IEPF then retains these monies on behalf of the shareholders, and within a given time frame, the shareholders can recover their dues from the IEPF.

 The value of IEPF in TCS shares is derived from its responsibility to safeguard shareholders' unclaimed cash and the interests of shareholders. The government intends to avoid the loss or abuse of these assets and ease their eventual restoration to the legitimate shareholders by transferring unclaimed dividends to the IEPF.

It is to make sure the shareholders may receive their legitimate benefits; individuals should be aware of the steps and deadlines for filing their claims with the IEPF. For thorough and accurate information on IEPF-related concerns, it is advised to examine the IEPF's official website and stay in touch with the company's investor relations department or Registrar.

 The Procedure for Recovering TCS Shares from IEPF

Shareholders of the company whose shares, unclaimed or unpaid dividend amount has been transferred by the company to IEPF Authority under section 124 of the Companies Act, 2013 may claim shares or unclaimed dividend amount from IEPF Authority.

The steps listed below must be taken to recover TCS shares from IEPF:

• Filling out the application form with information about the applicant, the applicant's Aadhaar number or, in the case of NRIs and foreigners, their passport, OCI, or PIO card number, the amount claimed, the company's data, deposits details, and the shares to be claimed, and the bank account information for the refund. The shareholder can contact the company/ Registrar and Transfer agent. TSR Darashaw Limited and obtain details of year-wise dividend entitlement and share transferred to IEPF Authority before proceeding with the next step.
• Send the completed Form IEPF-5, an original indemnity bond with the claimant's necessary paper duly attested, a copy of the Demat account, a passport, an OCI, or a PIO card, and a cheque to the company's IEPF Nodal Officer or to the Registrar to submit a refund claim.
• After receiving the claim form, the firm required 15 days to compile a verification report and send it to the IEPF authorities with the claimant's supporting Paper works.
• After receiving the verification report, the IEPF Authority has 60 days to decide on the reimbursement request or may ask the shareholder to resubmit the required necessary paper in case of any discrepancy. After confirming the eligibility, the IEPF authorities will issue a sanction order for reimbursement. Subsequently, the accounts officer will receive a bill for payment from the relevant officer and the IEPF Authority. The shares and the amount due to claimant's will be credited to the Demat account of claimant.
• If IEPF Authority requests the shareholder to resubmit any necessary papers, shareholders are to forward the necessary papers to the nodal officer. Upon receipt of the revised necessary papers from the shareholder, the Nodal officer would forward the revised Verification report to IEPF Authority for settlement of the shareholder's claim.

Services Offered by Enterslice

Recovery of Shares

Our personnel can assist you in reclaiming the shares from IEPF. We offer end-to-end assistance, which includes Paper works support, application form filing, necessary paper submission, and routine IEPF follow-up to help people finish the MCA and IEPF procedures. For our clients, we make things as simple and hassle-free as possible. We have experts who can assist you in completing the share recovery process.

Transmission of shares

The term "transmission of shares" refers to the transfer of ownership from the shareholder, the original claimant or the legal heir. Many legal grounds exist for this, including death, insolvency, marriage, insanity, and insanity. In case of death, a certified copy of the shareholder's death certificate, a probate of the will, a letter of administration, a certificate of succession, the legal heir's or successor's signature, and a duly-attested copy of the PAN Card.

Transfer of Shares

The transfer of shares occurs when the original shareholder sells their shares to the transferee freely in exchange for cash. The obligations of the transferor and the original shareholder expire once the transfer is complete and ownership is transferred to the transferee via a transfer deed.

Dividend Recovery

A dividend is part of a company's earnings distributed to shareholders by the board of directors in cash, stock, or another asset. If the payment is unclaimed for seven years, it is transferred to the IEPF as an unclaimed dividend. Our staff offers knowledgeable assistance to customers to obtain IEPF unclaimed earnings without running afoul of the law. If the assets were not claimed because bonus shares were never claimed, a share transfer or transmission must be conducted appropriately; shareholder records or any other reason must be correct.