Hindustan Petroleum Corporation Limited (HPCL) has issued a communication to shareholders regarding unclaimed dividends and shares, urging them to claim these before transfer to the Investor Education and Protection Fund Authority (IEPFA).
As per Section 124(5) of the Companies Act, 2013, dividend amounts unclaimed for seven years are required to be transferred to IEPFA.
Furthermore, Section 124(6) of the Companies Act, 2013 mandates that shares on which dividends have not been claimed for seven consecutive years or more are also liable for transfer to IEPFA.
Unclaimed dividends for the Financial Year 2017-18 (Final) and the corresponding shares are due for transfer to IEPFA in September 2025.
Shareholders must submit their claim requests and necessary documents to HPCL’s Registrar and Share Transfer Agent (RTA), M/s. MUFG Intime India Private Limited, no later than September 15, 2025.
The process requires KYC compliance, and specific documents are needed based on whether shares are held in Demat or Physical form. Shareholders with NIL shareholding but unclaimed dividend exceeding ₹10,000 must submit an indemnity letter on a ₹500 non-judicial stamp paper.
Failure to claim by the specified deadline will result in the transfer of the unclaimed dividends and shares to IEPFA, after which claims can only be made directly from the IEPFA website (http://www.iepf.gov.in/IEPF/refund.html).