One of the perks of owning shares of any company is the dividends—the profit or surplus that is distributed among shareholders. Dividends that are not claimed by shareholders for more than seven years are transferred to the Investor Education and Protection Fund (IEPF). This fund was set up by the government to promote awareness and protect the interest of investors.
Against this background, Vinay Butani, Partner at Economic Laws Practice (ELP) has been quoted by LiveMint in their article titled ‘Have you claimed your dividend yet? Here’s how to get a refund’. He says, “After shares are moved to the IEPF account, the voting rights on the shares shall be frozen and any further dividend on such shares shall be credited to the fund until claimed by the rightful owner.”
Read the comment and detailed article here: https://bit.ly/3asw1Po