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Recover your Shares is a leading consultancy firm in India, renowned for delivering exceptional services to clients nationwide and to Overseas Citizens of India. Our expertise spans the entire spectrum of share recovery, from tracing lost shares to reviving them. Backed by a dedicated team of seasoned professionals, strong network, we are passionate about providing unparalleled service experiences.
Specialized Support for Senior Citizens
We recognize the unique needs of our senior and super senior citizens (75+ years). To cater to this demographic, we have a specialized team that focuses exclusively on providing fast-track solutions, ensuring the revival of their assets in the shortest possible timeframe.
OUR SERVICES
IEPF Claim
Lost share certificates
Transmission of Shares
IEPF Claim (claim from Investor Education and Protection Fund).
a) What is IEPF ?
The Investor Education and Protection Fund (IEPF) is a fund established by the Government of India to promote investor education, awareness, and protection. It aims to safeguard the interests of investors, particularly small and retail investors, by providing them with necessary information, education, and support.
b) Objectives of IEPF.
The primary objectives of IEPF are:
- Investor Education: To educate investors about the risks and benefits associated with investing in securities, commodities, and other financial instruments.
- Investor Protection: To protect investors from fraudulent and unfair practices in the securities market.
- Promoting Investor Awareness: To promote investor awareness and financial literacy among the general public.
- Refunding Unclaimed Amounts: To refund unclaimed shares & unclaimed amounts, such as dividends, interest, and principal, to the rightful owners.
C) Why Shares and funds transfer to IEPF?
According to the Companies Act, 2013, shares and funds remaining unclaimed for a period of seven years from the date of declaration of dividend or the date of transfer to the Investor Education and Protection Fund (IEPF) suspense account, are required to be transferred to the IEPF.
This includes:
Unclaimed dividends, Unclaimed shares, Unclaimed debentures, Unclaimed matured deposits, Unclaimed interest on deposits
D) Process of reclaiming assets from IEPF authority.
Eligibility Criteria
To reclaim shares and funds from IEPF, the claimant must meet the following eligibility criteria:
- Identity: The claimant must be the rightful owner of the shares or funds.
- Documentation: The claimant must provide the required documents to support their claim.
Required Documents
The following documents are typically required to reclaim shares and funds from IEPF:
- Identity Proof: PAN card, Aadhaar card, passport, or driving license. In case of NRI’s a copy of their passport, OCI and PO card is required.
- Address Proof: Utility bills, bank statements, or rent agreements.
- Proof of Ownership: Share certificates, dividend warrants, or demat account statements.
- Additional documents: As asked by the respective authority or company depending on the case.
Reclaiming Process
Here’s a step-by-step guide to reclaiming shares and funds from IEPF:
- Verify Claim: Check the IEPF website (www.iepf.gov.in) to verify if your shares or funds are available for claim.
- Download Form: Download the IEPF-5 form from the IEPF website.
- Fill and Sign: Fill the form carefully and sign it.
- Attach Documents: Attach the required documents, including identity proof, address proof, proof of ownership, any additional document as asked by the authority.
- Submit Form: Submit the filled form and attached documents to the IEPF Authority.
- Verification: The IEPF Authority will verify the claim and documents.
- Refund: Once the claim is verified, the IEPF Authority will refund the shares or funds to the claimant.
Need help in recovery.
Lost share certificates
How to get duplicate share certificates.
In case of loss of original share certificates, one need to comply with the process of Duplicate share certificates. By this process claimants can obtain duplicate share certificates, in case they have lost / misplaced or stolen their original share certificates.
Process and Time taken for the duplicate process:
Generally it takes 1 month time, post providing all the relevant documents as asked by the authorities. It may include, newspaper Advertisements in English newspaper and in vernacular language (it is required if the value of shares is above 5 lacs), FIR copy of the lost share certificate with all the relevant details (like total number of shares, certificate nos and distinctive nos, to get your details. Click Here
Additional documents, may also be required, like indemnity bonds, affidavits, surety bonds etc.
Will duplicate shares be issued in Physical form?
As per recent SEBI guidelines, the company must issue duplicate share certificate in the form of LOC (Letter of confirmation), which is valid for 120 days from the date of issuance. You need to submit the LOC with your KYC proof to your respective Depository Participant (Where you have your demat account) for dematerialization of your shares.
Transmission of Shares
Transmission of shares refers to the process of transferring ownership of shares from a deceased shareholder or a shareholder who has lost their mental capacity to their legal heirs or representatives. This process involves the transfer of shares from the original shareholder’s name to the name of the new owner.
Types of Transmission
There are two types of transmission:
- Testate Transmission: When a shareholder dies leaving behind a valid will, the shares are transmitted to the beneficiaries named in the will.
- Intestate Transmission: When a shareholder dies without leaving behind a valid will, the shares are transmitted to the legal heirs according to the laws of succession.
Documents Required for Transmission
To initiate the transmission process, the following documents are typically required:
- Death Certificate: A certified copy of the death certificate of the deceased shareholder.
- Probate of Will or Letter of Administration: A probate of Will or letter of administration issued by the court, authorizing the transmission of shares. Probate of Will: When a deceased person leaves a will court will grant a probate against it. Only the assets stated in a Will are transferred to the beneficiary (individual or any entity).
- Succession Certificate: A succession certificate issued by the court, certifying the legal heirs of the deceased shareholder. Generally it is required when the value of
- the shares exceed 5 Lacs, if in physical form. While, if it’s in digital form, then it is required if the value of the shares exceeds 15 Lacs.
When a deceased person does not leave a Will, succession is granted by the court. In succession certificate, legal heir can claim all the assets of the deceased. Beneficiary in the succession can only be a legal heir, as per the succession act, 1925.
- Legal Heir certificate or Survivor member certificate: It is issued by the respective Revenue department of the district (In case of metropolitan cities, it is issued by SDM office and in case of non-metropolitan cities it is issued by Tehsil office), certifying the list of surviving members of the deceased shareholder. It is required to claim the shares of value less than 5 Lacs if in physical form or if in digital mode, it is required if the value is less than 15 Lacs.
- Identity Proof: Identity proof of the new owner, such as a PAN card, Aadhaar card, or passport.
- Address Proof: Address proof of the new owner, such as a utility bill, bank statement, or rent agreement.
Process of TransmissionThe process of transmission involves the following steps:
- Notifying the Company: The new owner or their representative must notify the company about the transmission of shares.
- Submitting Documents: The required documents must be submitted to the company for verification.
- Verification: The Company verifies the documents and ensures that the transmission is in accordance with the laws and regulations.
- Transmission: The shares are transmitted to the new owner’s name, and the company updates its records accordingly.
Importance of Transmission
Transmission of shares is an important process that ensures the smooth transfer of ownership and prevents disputes among the legal heirs. It also helps to maintain the integrity of the company’s records and ensures compliance with the laws and regulations.
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SHARE RECOVERY
What is Share Recovery? Share recovery refers to the process of reclaiming or retrieving shares that have been lost, forgotten, […]
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