Empire Industries to transfer unclaimed shares to IEPF by August 31
Empire Industries Limited is set to transfer unclaimed dividends for FY 2018-19 and related shares to the Investor Education and Protection Fund (IEPF). Affected shareholders must submit claims to the company or its registrar, NSDL Database Management Limited, by August 31, 2026, to avoid the transfer. Post-transfer, all claims must be directed to the IEPF Authority.
*this image is generated using AI for illustrative purposes only.
Empire Industries Limited will transfer unclaimed dividends for the Financial Year 2018-19 and the corresponding equity shares to the Investor Education and Protection Fund (IEPF). The transfer follows the provisions of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended. Dividends that have remained unclaimed and unpaid for a period of seven years are due for transfer. Additionally, shares for which dividends have been unclaimed or unpaid for seven consecutive years or more will be transferred to the IEPF.
The company stated that shares will not be transferred if there is a specific court or tribunal order restraining the transfer or if the shares are hypothecated or pledged under the Depositories Act, 1996. Shareholders in such categories must provide documentary proof to the company. Individual communications are being sent to affected shareholders, and details regarding folio numbers, DP IDs, Client IDs, and the number of shares are available on the company's website.
Claim Process and Deadlines
Shareholders whose shares are liable for transfer are advised to verify their details immediately. Applications to claim the unclaimed dividend or shares must be submitted to the company or its Registrar and Transfer Agent (RTA) on or before August 31, 2026. This deadline allows the company and RTA to process applications prior to the due date of the transfer to IEPF.
Registrar and Transfer Agent Details
| Entity | Details |
|---|---|
| Name | NSDL Database Management Limited |
| Address | 4th Floor, Tower 3, One International Center, Senapati Bapat Marg, Prabhadevi, Mumbai 400 013 |
| investor.ndmlrt@ndml.in |
Transfer Mechanics for Shareholders
For shareholders holding shares in physical form, the company will issue new share certificates to facilitate the transfer to IEPF. The company will then inform the depository to convert these certificates into dematerialized form and transfer them to the IEPF's DEMAT account. The original share certificates registered in the name of the shareholder will stand automatically cancelled and deemed non-negotiable.
Shareholders holding shares in dematerialized form will see the company inform the depository via corporate action to transfer the shares directly to the IEPF's DEMAT account. The company noted that the details published on its website constitute adequate notice regarding the issuance of new share certificates for the transfer process.
Once the unclaimed dividend and shares are transferred to the IEPF, no claim will lie against the company. Shareholders must claim the dividend, shares, and any accrued benefits from the IEPF Authority by following the procedures prescribed in the Rules.
Historical Stock Returns for Empire Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.01% | -4.96% | +6.86% | +4.17% | -7.87% | +26.01% |
How might the transfer of a significant volume of shares to the IEPF impact Empire Industries' shareholder distribution and liquidity?
Could this initiative lead to a broader trend among other companies to accelerate the cleanup of unclaimed dividends and shares?
What steps can investors take to prevent their assets from being transferred to the IEPF in the future?
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