Lost Shares / Unclaimed Dividend
Have you Lost your Share Certificate? Misplaced the shares irretrievably. Your father / grandfather were alloted shares some 3 to 4 decades before, now neither you nor anybody else in family remembers where those share certificates are? You receive dividend's regularly but have no Idea where are those shares. Share Market is up but you cannot encash it, reason you do not have the shares with you, so you cannot sell. If any of this applies to you then you have reached the place you were looking for. We assist people in getting back their lost wealth. Is it legal? Yes 100%. You lost your share certificate. Do you still own the stock? Yes. Regardless of whether you as a shareholder lose your share certificate, you still own the shares.
What will you do if you lose an important document like your share certificate? The thought itself can prove to be a nightmare as there are chances of the document being misused leading to a financial loss.
Procedure for Duplicate Share Certificate
We have summarized the entire procedure to apply for
Duplicate Share Certificate Also we have summarized the Document Formats for Duplicate Share Certificate
Trading in Demat mode is regulated by Securities and Exchange Board of India (SEBI). Presently there are two depositories functioning i.e. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). Read on for Understanding the entire concept and Advantages of keeping shares in Demat mode.
Where the Shares are not kept in Demat Mode (kept in Physical mode) the procedure to record change of address, change in name of the shareholders, registration of power of attorney / authority to another person to deal with shares, registration of nomination, transposition of names i.e. changing the order of names of registered holders, deletion of names of deceased shareholder, transmission of shares, procedure for issue of duplicate share certificates, procedure for transfer of shares, procedure related to receipt of dividend, procedure to be followed in case of non-receipt of dividend, is as summarized here Physical Shares.
Securities and Exchange Board of India
SEBI issued a
Circular on Unclaimed Shares
dated 24 April 2009
Companies Act 2013
Recently the Companies Act 2013 has made specific provisions related to unclaimed shares and Dividends.
THE COMPANIES ACT, 2013
Declaration and Payment of Dividend
Unpaid Dividend Account
Any money transferred to the Unpaid Dividend Account of a company in pursuance of this section which remains unpaid or unclaimed for a period of seven years from the date of such transfer shall be transferred by the company along with interest accrued, if any, thereon to the Fund established under sub-section (1) of section 125 and the company shall send a statement in the prescribed form of the details of such transfer to the authority which administers the said Fund and that authority shall issue a receipt to the company as evidence of such transfer.
All shares in respect of which unpaid or unclaimed dividend has been transferred under sub-section (5) shall also be transferred by the company in the name of Investor Education and Protection Fund along with a statement containing such details as may be prescribed.
Provided that any claimant of shares transferred above shall be entitled to claim the transfer of shares from Investor Education and Protection Fund in accordance with such procedure and on submission of such documents as may be prescribed.
Given the New Rules rules related to unclaimed shares and Dividend, Hidden Wealth Inc strongly advises all shareholders to reclaim the shares failing which the shares shall stand transferred in the name of Government.
Unclaimed Dividend Database
Over a period of time we have painstakingly collected information on companies and shareholders, we now have details of millions of Investors who have not claimed their dividend and they risk their shares been transferred to Government. Once the shares are in the name of Government its a tough task to get it reinstated in the name of Investor.
We at Hidden Wealth Inc. specialize in Recovering Lost share certificate / unclaimed dividend / unclaimed shares, basically we assist the shareholder to re-discover his lost asset - Hidden Wealth.