Paul Merchants sets August 16 deadline for unclaimed dividend claims
Paul Merchants Limited has issued a reminder notice for the transfer of unclaimed dividends for FY 2019-20 to the IEPF Authority. Shareholders must claim dues by August 16, 2026, to avoid share transfer.
*this image is generated using AI for illustrative purposes only.
Paul Merchants Limited has notified shareholders that unclaimed dividends from the Financial Year 2019-20 are liable to be transferred to the Investor Education and Protection Fund (IEPF) Authority. The company has set a deadline of August 16, 2026, for shareholders to claim these outstanding amounts to avoid the compulsory transfer of their equity shares. The interim dividend was originally declared on August 6, 2019.
The transfer process follows Section 124(6) of the Companies Act, 2013, and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. Dividends that remain unpaid or unclaimed for a continuous period of seven years or more must be transferred to the IEPF. For the specific dividend in question, the statutory seven-year lock-in period expires on September 11, 2026.
Key Corporate Event Milestones
The company has outlined the critical dates related to this regulatory compliance action. The reminder notice was formally issued and dispatched on June 8, 2026. Shareholders have been advised to act before the cut-off date to ensure they retain their rights to the dividends and the associated shares.
| Milestone | Date |
|---|---|
| Target Dividend Declaration Year | FY 2019-20 |
| Date of Dividend Declaration | August 6, 2019 |
| Cut-Off / Last Date for Claims | August 16, 2026 |
| Statutory Expiry of 7-Year Period | September 11, 2026 |
Compliance and Claim Procedures
Paul Merchants Limited has engaged M/s Alankit Assignments Limited as its Registrar and Share Transfer Agent (RTA) to facilitate the claim process. Shareholders holding shares in dematerialized form must return a signed request form to the RTA along with a self-attested copy of their Client Master List (CML) containing updated bank details. The company has emphasized the importance of ensuring demat accounts are fully KYC-compliant, including a valid PAN linked to Aadhaar, to process electronic remittances.
Failure to claim the dividends by the specified deadline will result in the company initiating corporate action to debit the shareholder's demat account and transfer the shares to the IEPF Authority. Once transferred, all future benefits on these shares, including dividends, bonus issues, and splits, will accrue to the IEPF. Shareholders may subsequently reclaim their shares and dividends from the IEPF Authority by submitting an online application in e-Form IEPF-5 on the Ministry of Corporate Affairs portal, though only one consolidated claim per company is permitted in a financial year.
Historical Stock Returns for Paul Merchants
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.05% | +0.80% | -9.68% | -15.49% | -15.49% | -15.49% |
What impact will the potential transfer of unclaimed shares to the IEPF have on Paul Merchants Limited's shareholder register and floating stock?
How might the complexity of the IEPF-5 refund process influence investor sentiment towards holding shares in the company long-term?
Could the high volume of unclaimed dividends from FY 2019-20 indicate underlying issues with the company's past communication or dividend distribution efficiency?
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