BSE Limited has issued an important notice regarding the transfer of equity shares to the Investor Education and Protection Fund (IEPF) Authority. This action is being taken for shareholders who have not claimed their dividend amount for seven consecutive years, starting from the declaration of the Interim Dividend for the Financial Year 2017-18. This announcement has been made in compliance with Regulation 47(1) of SEBI's Listing Obligations and Disclosure Requirements (LODR), 2015, and the Investor Education and Protection Fund (IEPF) Rules, 2016.

According to the announcement, the equity shares will be transferred to the IEPF Authority. This step is part of a regulatory initiative to protect investors' interests by ensuring that unclaimed dividends do not remain unaccounted for. The shares affected by this transfer are from those shareholders who have failed to claim dividends for seven consecutive years, beginning with the Interim Dividend declared for the 2017-18 fiscal year.

BSE has published this notification in major newspapers like Financial Express (English) and Navshakti (Marathi) on Thursday, November 21, 2024. These publications serve to inform stakeholders and the general public about the upcoming share transfer to the IEPF Authority, ensuring that investors are aware of the regulatory requirements and deadlines.

Why is this Important?

The transfer of shares to the IEPF Authority aims to protect the interests of investors who have failed to claim their dividends. This process ensures that unclaimed dividends do not accumulate and remain unaccounted for. The IEPF has been created to safeguard and refund such unclaimed amounts to the rightful owners after proper verification. Shareholders are encouraged to check if they have any unclaimed dividends and take necessary action to prevent the transfer of their shares to the IEPF.

This step also reflects the BSE's commitment to adhere to SEBI regulations and support the broader goals of investor protection. By publicizing this announcement, BSE is ensuring transparency and keeping investors informed.

Next Steps for Shareholders

If you are a shareholder of BSE Limited and believe you may have unclaimed dividends, it is critical to verify your records and claim your dividends before the transfer date. Information regarding the procedure for claiming these dividends and returning shares from the IEPF will be available on BSE's official website.

For more information, visit the BSE official website or read the full announcement in Financial Express and Navshakti.

Conclusion

BSE's initiative to transfer unclaimed shares to the IEPF Authority serves as a reminder for investors to keep track of their investments and claim any uncollected dividends promptly. Ensuring that unclaimed dividends are properly handled helps maintain a fair and efficient market, which benefits all stakeholders involved.

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