DIVIDEND
1. I have not received my dividend. What action do I take?

You may send a letter or an email to our R&T Agent furnishing the particulars of the dividend not received, quoting your folio number or Depository Participant ID & Client ID (in case of demat shares). Our R&T Agent will check their records and request the dividend paying banker for a Demand Draft if the dividend shows unpaid in the records of the Company. You will need to submit the requisite Indemnity  to enable the R&T Agent to issue the Demand Draft.

Click here for a format of the enquiry letter cum Indemnity form.

The above process approximately takes 21 days.

 

2. Can I claim dividends relating to past years that have not been received by me?

As per the Section 205C of the Companies Act 1956, the Company maintains all unpaid/unclaimed dividends for the past seven years. If you have not received any of these dividends, you may send a letter to our R&T Agent with relevant particulars like folio number, concerned dividend, etc., and we shall arrange to pay the dividend if it remains unpaid in our records.

In case the dividend pertains to periods earlier than 7 years, these cannot be claimed as they would have been already transferred to the Investor Education and Protection Fund (IEPF). The actual dates on which unclaimed dividend will be transferred to IEPF, for the past dividends, are given in the latest Corporate Governance Report of the Company available on the web site.

However,if your dividend pertains to a period prior to the financial year 1994—95, the amount can be claimed from the Registrar of Companies, Maharashtra, CGO Complex, 2nd Floor, CBD Belapur, Navi Mumbai 400 614 by submitting Form 1, 2 and 3. A copy of Form 1 must be sent to the Company.

The Company is committed to assist shareholders in this regard.

 

3. Can I authorize my bank or any other person to receive dividends on my behalf?

Yes. You will need to give a mandate letter to our R&T Agent, furnishing the name and address of the authorized person/bank and your folio number. We shall record your instructions and dispatch the warrant directly to the bank.

Click here for a format of the Mandate Letter.

 

4. I want bank details on my dividend warrant. Is this possible?

Yes. You will need to give a request letter to our R&T Agent, furnishing the name & address of the authorized person/bank and your folio number. We shall record your instructions accordingly and dispatch the warrant with the bank details printed thereon.

Click here for a format of the Request Letter.

 

5. Why can't the Company take on record the bank details in case of demat shares?

As per the Depository Regulations, in case of demat shareholders, the Company is obliged to pay dividend as per the details furnished by the concerned Depository Participant. The Company cannot make any change in such records received from the Depository.

 

6. What is National Electronic Clearing Service (NECS)?

Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites dividend payment as it results in direct credit to the shareholders account. If you have not already opted for National Electronic Clearing Service, you may please do so.

Click here for a format of the NECS Mandate Letter.

 

7. Is the NECS facility available across the country?

NECS has no restriction of centres or of any geographical area inside the country. The system takes advantage of the centralised accounting system in banks. Accordingly, the account of a bank that is receiving payment instructions is credited centrally at Mumbai. The branches participating in NECS should be core-banking-enabled though they can be located anywhere across the length and breadth of the country.

Banks are free to add any of their core-banking-enabled branches in NECS irrespective of their location. The list of bank branches covered under NECS is available on the website of Reserve Bank of India at http://rbidocs.rbi.org.in/rdocs/ Content/DOCs/100ECS_54.xls.