Blog

Amidst the rapidly evolving share market, overlooked old shares are nothing uncommon. And considering it, the Ministry of Corporate Affairs (MCA) dons have come to the rescue. 

 

A fund named Education and Protection Fund (IEPF), introduced by MCA, helped to give the unclaimed money a haven. Section 124 of the Companies Act, 2013, backed by the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016, enables shareholders to get back their unclaimed dividends. Keep on reading to get details on how to claim your old share from this authority. 

 

Defining Unclaimed Dividend 

 

Unclaimed dividend denotes the portion of a company's profits distributed to its shareholders as dividends but remains undistributed or unpaid due to shareholders' inability to claim or cash their dividend entitlements within a specified time limit. 

 

The companies held that after a specific time ( maximum 7 years), the money will get transferred to the Investor Education and Protection Fund (IEPF) as per legal regulations, ensuring rightful shareholders can still access their dividends. It’s a claim that saves investors from the burdens of missing money.

 

A Few Words on IEPF

 

Before you think of the transmission of shares or other fiscal facts, knowing about IEPF is essential. Emerged as the guiding star of fiscal rights, the Investor Education and Protection Fund (IEPF) Authority was introduced on September 7, 2016, via the brushstrokes of Section 125 of the Companies Act, 2013. 

 

Besides playing the role of a guardian taking care of unclaimed investments, this authority is responsible for orchestrating the symphony of refunds – the unclaimed dividends, the ripe deposits, and the matured debentures – all finding their way back to the rightful investors. 

 

You can consider IEPF as a conductor that thinks beyond offering fiscal harmony, It also provides financial literacy, as it breathes life into awareness among investors and helps them to get back their unclaimed dividends. 

 

How to Get Unclaimed Shares from IEPF?

 

Step 1: Filing to the Authority

 

If you want to get a refund or recover the shares back in your name, first you need to submit the Form IEPF-5 on the MCA portal. There you need to give information including:

• The company information from that has the due amount, including the CIN number 

• Share details you are claiming

• Details of the dividend amount

• Aadhaar number, ( if you are an Indian citizen or passport/OCI/PIO card number, if you are a NRI or foreigner)

• Details of the Aadhar-linked bank account to which the claim would be refunded 

• Demat account number

 

Step 2: Claim Submission to Authority

 

After submitting the IEPF-5 form as a claimant you need to send the form copy to the company’s IEPF Nodal Officer/Registrar attaching the following documents: 

 

• Printout of the filled Form IEPF-5 with the claimant’s signature. 

• Acknowledgment copy with the SRN number.

• Original indemnity bond bearing claimant’s signature on the non-judicial stamp paper.

• Original advance stamped receipt bearing the signature of the claimant and witnesses.

• Original share certificates (for physical form holdings) or a transaction statement snapshot (for Demat form securities).

• Aadhaar card

• Entitlement proofs like the certificate of share, interest warrant application number, etc.

• Passport, Overseas Citizen of India (OCI), or Person of Indian Origin (PIO) card if you are a NRI. 

• Canceled cheque 

• A copy of client master list of demat account.

 

Step 3: Claim Submission to the IEPF Authority 

 

After you are done with all these to claim unclaimed dividends, the company is expectedly to be ready with a verification code within 15 days of claim receiving. And should submit it to the IEPF authority with the claimant’s documentation.

 

Step 4: Refund from IEPF Authority

 

Once the claimant's application for unclaimed dividend gets approved by the verifying company, IEPF Authority steps up its tempo, ensuring to take a prompt decision generally within 2 months. 

 

When the green light of entitlement is there the IEPF Authority and its financial counterpart signal the payment symphony, sending a bill to the Pay and Accounts Officer. With proper entitlements, the claim gets credited to his/her the claimant's Demat account.

 

Conclusion

 

Hopefully, you got proper information about the ways of claiming unclaimed dividends from the IEPF authority. And if you are looking for a smooth share recovery process, you may connect with Share Samadhan. We help to get your money back smoothly in a hassle-free way, saving you from the hassle of committing any flaw. We have experts available at your disposal who will be there to take care of your claim needs.

For specific legal advice, you should consult with a qualified attorney who specializes in property law in your jurisdiction. Below are some tips to follow-

1. Communication: First and foremost, open and respectful communication is essential. Try to have a calm discussion with the involved family members about your concerns and desire to resolve the dispute amicably.

2. Mediation: Consider engaging a neutral third party, such as a mediator, to facilitate discussions between family members. Mediation can help identify common ground, explore solutions, and reach a mutually acceptable agreement.

3. Legal Advice: Consult with a property lawyer who specializes in family and real estate law. They can provide you with guidance on your rights, options, and the legal processes available to resolve the dispute.

4. Documentation: Gather any relevant documents that prove your ownership or interest in the property. These might include deeds, contracts, or financial records. Having clear documentation can strengthen your position.

5. Negotiation: With the help of legal counsel, negotiate with the other parties involved. This might involve finding a compromise or exploring options for sharing or dividing the property equitably.

6. Settlement Agreement: If an agreement is reached, it's essential to have a legally binding settlement agreement drafted by your attorney. This document outlines the terms of the resolution and helps prevent future disputes.

7. Alternative Dispute Resolution: If negotiation doesn't work, you might consider other methods of dispute resolution, such as arbitration or collaborative law. These methods can help avoid costly and lengthy court battles.

8. Court Action: As a last resort, you might have to consider legal action. If negotiations fail and your rights to the property are being infringed upon, you might need to go to court to assert your legal claim.

Remember, every situation is unique, and the best approach will depend on the specifics of your case. It's advisable to seek legal counsel early in the process to understand your rights and options thoroughly. Family-property disputes can be emotionally charged, so having a clear understanding of the legal aspects can help you make informed decisions and work toward a resolution.

In the intricate landscape of family-property disputes, Share Samadhan stands resolute as a beacon of optimal solutions. Our holistic approach ingeniously integrates a range of services, ensuring a harmonious resolution for all stakeholders involved.

At the core of our strategy lies the adept use of transmission of shares, a pivotal tool that bridges the gap between familial complexities and legal necessities. This approach not only resolves ownership challenges but also nurtures an atmosphere of cooperation. Our expertise extends to share recovery, salvaging equity, and restoring tranquility within family dynamics.

Share Samadhan is a master orchestrator of transfer and transmission of shares, crafting a path towards agreement and understanding. We excel in simplifying the labyrinth of unclaimed dividend transfer to IEPF, ensuring financial security is fortified. Through our shares recovery services, we delicately reestablish equity, even delving into the realm of IEPF unclaimed shares and investments.

The expanse of our proficiency includes addressing IEPF status pending for approval, rectifying unclaimed dividends, and advocating for unclaimed insurance claims. For those grappling with missing money, we offer the guiding light to locate lost investments. Our expertise as a physical shares consultant merges tradition and modernity seamlessly.

From unraveling the complexities of how to find unclaimed money in India to unearthing dormant assets, we stand as a fortress for financial stability. Share Samadhan is a catalyst for provident fund claims and unclaimed bank deposits, ensuring no stone is left unturned.

With a thorough understanding of share transmission, we facilitate unclaimed shares transfer to IEPF, securing the future. As seasoned financial consultants, we bridge the gap between fund management and reclaiming dividends, ensuring no money goes unaccounted for.

The tale of Share Samadhan is one of empowerment. From locating old shares to recovering funds, we rewrite the narrative of unclaimed property. As a dedicated fund recovery company, we work tirelessly, offering a lifeline for financial security. Our expertise resonates even with Indian post unclaimed deposits and provident fund claims.

In the realm of family-property disputes, Share Samadhan redefines what's possible. We unite tradition, modernity, and expertise, offering solutions that are both unique and all-encompassing

Unclaimed investments can present complex legal challenges for both investors and financial institutions. When there is money missing, disputes arise, leaving claimants seeking answers and rightful ownership. But you don’t have to worry, we will help you explore the legal aspects surrounding unclaimed investment disputes.

We will also shed light on the rights of the claimant and the importance of seeking professional assistance such as that offered by Share Samadhan. 

The Origins of Disputes

 

Unclaimed investments can result from various scenarios including dormant accounts, lost paperwork, or in some cases investor’s passing without proper succession planning. In these scenarios, rightful beneficiaries may find themselves struggling to establish ownership and access their funds. 

Rights of the Claimant 

 

While we understand the unpleasantness you go through when you are the claimant seeking a provident fund claim, it is essential that you understand your rights during such circumstances. While the process may seem challenging, claimants have the right to inquire about their investments and demand transparency from financial institutions. 

However, navigating through such complex legal procedures often requires professional expertise to ensure rightful claims are validated. 

Legal Recourse

 

There is a series of steps when it comes to the legal recourse to be undertaken against unclaimed investment disputes. These steps range from gathering relevant documents and addressing any procedural complexities to proving entitlement. 

During these times, a knowledgeable financial consultant can provide invaluable assistance. He can help a claimant build a solid case by exploring potential legal avenues for resolution. 

About Share Samadhan

 

We at Share Samadhan, understand the intricacies of unclaimed investment disputes. Our team’s expert knowledge and experience offer a reassuring hand to all claimants seeking to reclaim their funds. By providing professional guidance and support throughout the process, we ensure that our client’s legal rights are protected and their interests are represented with diligence and expertise. 

Unclaimed investment disputes can be emotionally and financially draining. But, with the team of Share Samadhan by your side, you can now face these challenges without a hiccup. Seeking support from Share Samadhan in this journey can make all the difference.

In modern-day real estate, ownership, and rights are closely intertwined. In such situations, property disputes can escalate into complex legal battles in the blink of an eye. The ultimate result of these conflicts is excessive stress, financial stress, and strained relationships.

Whether the conflict stems from a disputed family land or commercial real estate, the consequences can be far-reaching that does not only affect one particular individual but also the broader community involved. To navigate this treacherous terrain, it’s crucial to grasp the common causes of property disputes and arm yourself with some proactive strategies to avoid getting into such situations.

This blog will bring to you some of the key issues that eventually result in legal real estate disputes, provide you with actionable insights to steer clear of such conflicts, and how Share Samadhan can help you during these difficult times.

Common Causes of Property Disputes

1. Boundary Disputes – In India, boundary disputes are arguably one of the most common triggers for property disputes. In the simplest terms, these conflicts arise when neighbors cannot agree upon where one property ends and the other begins. Confusion or disagreements about property lines, and encroachments can spark heated debates which can then stretch to spending hours at the court.
   
   The root cause of this issue is a lack of accurate property surveys or inconsistent property descriptions. To prevent these conflicts in the future, it is important to have precise property measurements and clear boundary markings.
   
    

2. Landlord / Tenant Conflicts – Property disputes need not arise between two owners. Landlords and tenants getting involved in legal battles have become a common phenomenon. These disagreements are generally based upon, security deposits, rent, property maintenance, or eviction practices.
   
   These conflicts take place in the first place due to misunderstandings or ambiguous lease agreements. To avoid such disputes, it is the responsibility of both the landlord and the tenant to ensure that lease agreements address all potential points that could later lead to conflict and minimize the scope of ambiguity.
   
    

3. Title Disputes – Conflicting claims to ownership and rights over property are the leading causes of title disputes. Title disputes are quite common in India with a complex family structure. These disputes escalate when property ownership records are unclear and if there are competing claims from multiple different individuals.
   
   Inheritance related to ancestral properties is often tied up in title disputes as they often create an intricate legal puzzle for courts to solve. Ensuring proper documentation and thorough title search can help avoid title-related conflicts.
   
    

4. Adverse Possession Claims – Adverse possession claims occur when a person claims ownership of a property by occupying the land without the consent of the owner. Such disputes are often seen in the rural parts of India where the owners of the land live in faraway urban establishments.
   
   To prevent such claims, property owners should regularly inspect and protect their properties from unauthorized occupation.
   
    

5. Construction and Development Disputes – A piece of real estate can become disputed even during its development phase. Property development projects can lead to disputes among developers, neighboring property owners, and contracts on the grounds of dust, property damage, and noise.
   
   While these matters are often solved by cooperation; proper communication with neighbors and adhering to construction regulations come in handy during such times.

Preventing Property Disputes: Practical Steps

1. Accurate Property Surveys – Engaging professional surveyors to conduct accurate property surveys can help identify and resolve boundary-related issues before they escalate into disputes. Property surveys provide accurate measurements and boundaries, reducing the chances of disagreements between neighboring property owners.
   
    

2. Clear Documentation – The most convenient way to avoid any sort of property dispute is to ensure all property-related transactions are documented clearly. These documents include lease agreements, purchase agreements, and any other legal contracts associated with the property.
   
   Clear documentation helps in avoiding misunderstandings and provides a reference point in case of disputes.
   
    

3. Legal Consultation – When dealing with family property disputes or any other real estate-related disputes, seeking legal counsel early on can help prevent further misunderstandings and provide clarity on legal rights. Your legal experts can assist you in reviewing titles, agreements, and other documents to identify potential issues and devise the best way forward.
   
    

4. Due Diligence – In the realm of real estate, this goes without saying. Before putting pen to paper, it is a must to conduct in-depth due diligence verifying the property’s title, and ownership history, and detecting any ownership claims that might arise in the future.
   
   Performing this step diligently can help you avoid investing in a property infested with legal complications and family disputes. Consult with legal experts and obtain property records to have some more clarity on the legal status of the land.
   
    

5. Property Insurance – Land-related disputes can stretch for a long period and dent your financial situation. During such situations, it is wise to have adequate property insurance. They provide financial protection in case of land disputes on the grounds of damage caused by neighboring properties or property title disputes.
   
   Moreover, look to review your insurance at regular intervals to ensure that it aligns with your property’s requirements.
   
    

6. Regular Communication – In today’s world, half of the problems arise from a lack of proper communication. It has been observed that open lines of communication between property owners and neighbors or tenants can prevent any misunderstanding from escalating into a legal dispute.
   
   If these concerns can be addressed promptly, there might be no reason to go to the courts back and forth.

Share Samadhan: Your Partner in Property Resolution

In an era infested with land-related disputes and conflicts at every turn, having a reputed firm by your side can make all the difference while making informed decisions. Our team at Share Samadhan excels in guiding individuals and families through the intricate landscape of real estate disputes.

Whether you are going through a family land dispute, or construction-related conflicts, or land ownership disputes, our legal team offers you the most practical solutions to help resolve disputes amicably.

Our solutions are tailored to your situation with our main goal of minimizing the financial and mental stress you face during any conflict.

Final Word

To conclude, property disputes are generally seen as financially straining but we often overlook how they are emotionally stressful as well. These conflicts do not only impact one individual but entire communities involved. During these difficult times, understanding the common cause of disputes and taking proactive steps can prevent the conflicts from escalating.

Remember, a little foresight and the right guidance is all it takes to stop a conflict from turning into a legal dispute. When it comes to such disputes, Share Samadhan stands by you as your trusted partner ready to assist you in finding the most equitable solutions to preserve your peace of mind at all times.

In the realm of real estate, addressing potential issues early on and seeking professional assistance when required can considerably minimize the risk of property disputes and ensure a smooth real estate journey.

Investing in mutual funds is a popular and smart way to grow your wealth over time. These funds pool money from various investors and invest in a diversified portfolio of securities, managed by professional fund managers.

While mutual funds offer many advantages, they also come with certain complexities, one of which is unclaimed dividends. In this comprehensive guide, we will delve into the intricacies of unclaimed dividends and unclaimed money in mutual funds and explore the solutions available to investors to address this issue.

Understanding Unclaimed Dividends and Unclaimed Money

Unclaimed dividend refers to the portion of the mutual fund's profit or income that has not been collected by the investors. Mutual funds distribute dividends to their unit holders regularly, typically on an annual or semi-annual basis. However, sometimes investors may not claim their dividends due to various reasons, such as outdated contact information or oversight.

Unclaimed money, on the other hand, goes beyond unclaimed dividends and encompasses any money that belongs to investors but remains unclaimed. This can include matured investments, redemptions, or any other form of fund distribution that investors have not received.

The Impact of Unclaimed Dividends and Unclaimed Money

Unclaimed dividends and unclaimed money can create challenges for both mutual fund companies and investors. For mutual fund companies, managing unclaimed dividends can be administratively burdensome.

It requires record-keeping, regulatory compliance, and efforts to reach out to investors with unclaimed dividends. This diverts resources that could otherwise be used for enhancing fund performance.

For investors, unclaimed dividends mean missing out on potential returns and the benefits of compounding. It also raises concerns about the security and efficiency of the mutual fund's operations. Additionally, not claiming dividends may result in tax implications for investors.

Searching for Unclaimed Dividends

If you suspect that you have an unclaimed dividend from a mutual fund, you can take specific steps to reclaim it.

First, gather all the necessary documents related to your mutual fund investment, such as account statements, folio numbers, and PAN card. Next, visit the official website of the mutual fund house where you made the investment.

Most mutual fund companies have a dedicated section on their website to help investors search for unclaimed dividends or unclaimed money. Look for the "Investor Services" or "Unclaimed Dividend" on the website. Enter your folio number and other required details to check if there are any unclaimed dividends associated with your account.

The Process of Claiming Unclaimed Dividend

If you have identified unclaimed dividends or unclaimed money, the process to claim it is usually straightforward. You will need to download the relevant form from the mutual fund company's website or request it from their investor services department.

Fill out the form accurately, providing all necessary details, and attach the required documents as specified in the form. Commonly requested documents include identity proof, address proof, and bank account details for direct credit of the dividend amount.

Submit the completed form and documents either through the online portal or by mailing it to the mutual fund company's office. After verification, the mutual fund company will process your claim and credit the unclaimed dividend to your registered bank account.

Preventing Unclaimed Dividends and Unclaimed Money

Prevention is always better than cure. To avoid the hassles of unclaimed dividends, investors can take some precautionary measures:

1. Keep Contact Information Updated: Ensure that you update your contact details with the mutual fund company promptly. This includes your mailing address, phone number, and email address.

2. Opt for ECS: Consider opting for the Electronic Clearing Service (ECS) facility to receive dividends directly in your bank account. This reduces the chances of missing out on dividend payments.

3. Consolidate Your Investments: If you have multiple mutual fund investments, consider consolidating them under a single folio. This simplifies record-keeping and makes it easier to keep track of your investments.

Final Word

Unclaimed dividends and unclaimed money are common complexities in the world of mutual funds. However, with the knowledge of how to search for unclaimed dividends and the steps to claim them, investors can address this issue efficiently.

Remember, staying informed and proactive is the key to a successful mutual fund investment journey. So, take the necessary steps to keep track of your investments and never miss out on what is rightfully yours.

Invest wisely, invest responsibly!