Astec LifeSciences Limited has issued an important notice to its shareholders regarding the transfer of equity shares to the Investor Education and Protection Fund (IEPF). This action pertains to shares where dividends have remained unpaid or unclaimed for seven consecutive years.
According to the provisions of Section 124(5) of the Companies Act, 2013, and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, any unpaid or unclaimed dividends for a period of seven years must be transferred to the IEPF. Additionally, Section 124(6) mandates that all shares associated with these unclaimed dividends are also to be transferred to the IEPF.
Astec LifeSciences has identified that dividends against certain equity shares have remained unpaid or unclaimed since the financial year 2018-19. Consequently, these shares are scheduled to be transferred to the IEPF on 26th August 2026, unless claimed by the shareholders by 7th August 2026.
Shareholders who have not claimed their dividends are urged to contact Bigshare Services Private Limited, the company’s Registrar and Share Transfer Agents, to prevent their shares from being transferred to the IEPF. The process for claiming the unpaid dividends involves submitting an application to Bigshare Services before the stipulated deadline.
For shareholders whose shares are transferred to the IEPF, there remains a provision to reclaim both the unclaimed dividend amounts and the equity shares. This can be done by submitting an online application using the prescribed e-Form IEPF-5, along with necessary documents, to the Nodal Officer of the company or to Bigshare Services for verification.
Astec LifeSciences has made the details of unclaimed dividends available on its website and encourages shareholders to take immediate action to avoid the compulsory transfer of their equity shares to the IEPF.
Shareholders with queries are advised to contact the company or Bigshare Services through the provided contact details.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).