Table:
| Financial year | Amount of unclaimed dividend transferred (` lakh) | Number of shares transferred |
| --- | --- | --- |
| 2011 | 102.6* | 3,028 |
| 2012 | 86.5 | 29,672 |
| TOTAL | 189.1 | 32,000 |
Paragraphs:
xvii. Transfer of unclaimed/unpaid amounts to the Investor Education and Protection Fund:
Pursuant to Sections 124 and 125 of the Act read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”), dividend, if not claimed for a consecutive period of 7 years from the date of transfer to Unpaid Dividend Account of the Company, are liable to be transferred to the Investor Education and Protection Fund (“IEPF”).
Further, all the shares in respect of which dividend has remained unclaimed for seven consecutive years or
more from the date of transfer to unpaid dividend account shall also be transferred to IEPF Authority. The said
requirement does not apply to shares in respect of which there is a specific order of Court, Tribunal or Statutory
Authority, restraining any transfer of the shares.
In the interest of the shareholders, the Company sends periodical reminders to the shareholders to claim
their dividends in order to avoid transfer of dividends/shares to IEPF Authority. Notices in this regard are also
published in the newspapers and the details of unclaimed dividends and shareholders whose shares are liable
to be transferred to the IEPF Authority, are uploaded on the Company’s website (https://www.tcs.com/detailsunclaimed-
dividend-transfer-IEPF-account-2017).
In light of the aforesaid provisions, the Company has during the year under review, transferred to IEPF the
unclaimed dividends, outstanding for 7 consecutive years, of the Company, erstwhile TCS e-Serve Limited and
CMC Limited (since amalgamated with the Company). Further, shares of the Company, in respect of which
dividend has not been claimed for 7 consecutive years or more from the date of transfer to unpaid dividend
account, have also been transferred to the demat account of IEPF Authority.
The details of unclaimed dividends and shares transferred to IEPF during FY 2019 are as follows:
* Includes final dividend of erstwhile TCS e-Serve Limited and erstwhile CMC Limited
The members who have a claim on above dividends and shares may claim the same from IEPF Authority by
submitting an online application in the prescribed Form No. IEPF-5 available on the website www.iepf.gov.
in and sending a physical copy of the same, duly signed to the Company, along with requisite documents
enumerated in the Form No. IEPF-5. No claims shall lie against the Company in respect of the dividend/shares
so transferred. The Members/Claimants can file only one consolidated claim in a financial year as per the IEPF
Rules.
Question:
What happens to dividends that are not claimed for a consecutive period of 7 years from the date of transfer to the Company's Unpaid Dividend Account?
Answer: liable to be transferred to the Investor Education and Protection Fund (“IEPF”)