What are the Regulatory provisions and procedure governing unclaimed shares lying in physical form with the Company or its R&TA ?
As per amended Clause 5A of the Listing Agreement with the Stock Exchanges:
In terms of sub-clause (I), for shares issued pursuant to a public issue or any other issue, which remain unclaimed and are lying in the escrow account, the Company, after complying with the procedure prescribed therein, shall credit the unclaimed shares to a demat suspense account opened by the Company with one of the depository participants, for this purpose.
In terms of sub-clause (II), for shares issued in physical form pursuant to a public issue or any other issue, which remain unclaimed, the Company, after complying with the procedure prescribed therein, shall transfer all such unclaimed shares into one folio in the name of “Unclaimed Suspense Account” and shall demateralise such shares with one of the depository participants.
