#Recovery of Unclaimed and Lost Shares in India

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Avoiding Pitfalls: Tips for a Smooth Mutual Fund Claim

Ensuring a hassle-free claim process for your mutual fund is crucial to be aware of potential pitfalls that may arise. By understanding these potential challenges, you can take proactive steps to streamline your claim and avoid unnecessary delays or complications. This section will provide valuable tips and best practices for navigating the mutual fund claim process more efficiently.

First and foremost, it is important to stay updated with the terms and conditions of your mutual fund. Familiarize yourself with the specific requirements and procedures for making a claim. This includes understanding the documentation that needs to be submitted, the timeframe within which the claim needs to be filed, and any additional supporting information that may be required. By being well-informed, you can ensure that you are fully prepared to initiate the claim process.

Accurate documentation is another crucial aspect of a hassle-free claim process. Make sure to keep all relevant documents in order and up to date. This may include account statements, transaction records, purchase confirmations, and any other supporting evidence. Maintaining organized and accurate documentation will not only facilitate a smooth claim process but also help in providing the necessary evidence to support your claim.

In addition to accurate documentation, it is advisable to maintain open lines of communication with your mutual fund provider. Regularly check in with them to stay informed about any updates or changes that may impact your claim. This can help you stay ahead of any potential issues and address them promptly.

Furthermore, it is essential to promptly report any losses, damages, or other incidents that may give rise to a claim. Delaying the reporting of such incidents can lead to complications and may result in a denial of your claim. As soon as you become aware of an incident, notify your mutual fund provider and initiate the claim process as per their instructions.Lastly, it is always a good practice to seek professional advice when navigating the mutual fund claim process. Consulting with a financial advisor or legal expert can provide valuable insights and guidance, ensuring that you are taking the right steps to maximize your chances of a successful claim.

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IEPF stands for Investor Education and Protection Fund, which is a fund created by the Indian government to protect the interests of investors.

IEPF Unclaimed Shares refer to shares that are lying unclaimed with companies for a period of 7 years or more, which are then transferred to the IEPF. These shares belong to shareholders who have not claimed their dividends or taken any other action related to their shares during this period.

Once the shares are transferred to the IEPF, the shareholder can still claim them by following the prescribed procedure. If the shares remain unclaimed for a further 7 years, they are then transferred to the government, and the shareholder loses the right to claim them. The government then sells the shares and the proceeds are credited to the IEPF.

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Unclaimed investments recovery services

Topline Solutions is a company that provides unclaimed investments recovery services in India. With our expertise in the field, we help clients to locate and recover lost or forgotten investments such as shares, mutual funds, and other financial instruments. The team at Topline Solutions is equipped with advanced search tools and techniques to identify unclaimed investments, even if the client has little or no information about them. They work diligently to ensure that all unclaimed investments are recovered and returned to their rightful owners. With their reliable services and customer-centric approach, Topline Solutions has become a trusted partner for many individuals and companies seeking assistance with their financial needs.

Web:- https://www.thetoplinesolution.com/service-recovery-of-unclaimed-investments-1.php

Email:- info@thetoplinesolution.com

Mobile:- +91-9311620013

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IEPF Claim Recovery is a comprehensive service aimed at assisting individuals in reclaiming lost or unclaimed shares and dividends transferred to the Investor Education and Protection Fund (IEPF). The process involves verifying ownership, submitting necessary documentation, and following specific steps outlined by the IEPF Authority. With expert guidance, claimants can navigate complexities such as lost share certificates or unclaimed dividends, ensuring they recover their rightful investments efficiently. Professional services streamline the recovery process, making it more accessible for investors across India.

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Unlock Unclaimed Money in Mutual Funds | Rurash Financial - Your Guide to Unclaimed Investments in India

Discover how to recover unclaimed money in mutual funds in India with Rurash Financial. Learn about unclaimed investments, their importance, and the steps to reclaim your lost assets. Don't let your investments remain dormant; access your unclaimed wealth today.

Unclaimed money in mutual funds can be a hidden treasure waiting to be reclaimed. Rurash Financials is your trusted resource for understanding and accessing unclaimed investments in India. We provide valuable insights into the significance of unclaimed funds and guide you through the process of reclaiming what's rightfully yours.

Visit our website to learn more about unclaimed money in mutual funds and take the first step toward unlocking your forgotten financial assets. Reclaim your unclaimed investments with Rurash Financial today. !

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Unclaimed shares or money lying with IEPF? These are the steps to follow to reclaim them

Do you have some money or shares that you forgot to keep track of, and are now locked with the IEPF? If that is the case, you would wonder what exactly can be done to reclaim the assets you rightfully own but sadly — don’t possess anymore?

First of all, you need to understand where the securities go when you lose track of them as they remain unclaimed.

Any dividend money, interest income, matured debentures, matured deposits, redemption amount of preference shares and sale proceeds of fractional shares when remains unclaimed for seven years is transferred to the IEPF

What is IEPF?

IEPF stands for Investor Education and Protection Fund which is maintained by the IEPF Authority, a division of the Ministry of Corporate Affairs, Government of India.

This authority (IEPFA) is responsible to carry out refunds of shares, unclaimed dividends, matured deposits and debentures to investors, and also to promote awareness among investors..

Proposed integrated portal

In the Budget 2023, Finance Minister Nirmala Sitharaman announced an integrated IT portal to enable small investors to reclaim their unclaimed dividend and unpaid dividends from the IEPF in a speedy and seamless way.

“The proposed method will be a Straight Through Process (STP) whereby their Aadhaar and PAN linked demat accounts will be directly credited with shares after the Approved Verification Report is filed by the Company,” says Ankit Garg, Founder of Garg Law Chambers and Advisor, GLC Wealth

“There will be less physical verification of documents by the IEPF Officials resulting in drastic reduction of time taken to approve a claim below the threshold decided,” he adds.

How to reclaim your securities?

Any individual whose unclaimed or unpaid amount has been transferred by the company to IEPF may claim their refunds to the IEPF authority. In order to claim such an amount, claimants need to file form IEPF-5 along with other necessary documents.

Mr Garg says there could be a number of reasons for losing control over some securities e.g., some investors forget to keep their KYC updated.

To explain this, he shares an example of one of his clients where a company’s CEO – for not keeping the KYC updated – lost track of his securities, which were later transferred to IEPF.

“A CEO of a leading FMCG company purchased shares in his and his wife’s demat account and forgot to keep his KYC updated. Due to dividends not getting credited to their account over a long number of years during which they were posted in many countries, the shares were transferred to the IEPF Authority,” said Mr Garg.

“When he approached us, we followed up with the respective companies to get accurate details of shares and unclaimed dividends and filed their claims with the government authority. After consistent follow ups with the company and the IEPFA we were able to get their claim approved and recovery of shares credited to their demat accounts,” he elaborates.

These are the steps to follow to reclaim your assets:

I. Fill the form: First of all, access the IEPF-5 webform to file the claim for refund. And needless to mention that one must read the instructions carefully along with the form before filling the form.

II. Acknowledgement: Once you have filled the form, you can submit the same. Upon successful submission, an acknowledgement is generated indicating the SRN, which is used for tracking the form in future.

III. Printout: After uploading the form, one must take a printout of the duly filled IEPF-5 and the acknowledgement issued.

IV. Send documents: Now you should send an envelope marked “Claim for refund from IEPF Authority” to the Nodal Officer (IEPF) of the company at its registered office.

In this envelope, you should ensure to send indemnity bond in original, copy of acknowledgement and IEPF-5 form along with the other documents as mentioned in the Form IEPF-5.

V. Verification: Once these claim forms are completed in all aspects, they will be verified by the concerned company. Later, on the basis of the company's verification report, refund will be carried out by the IEPF Authority in favour of claimants’ account via electronic money transfer.

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How to Claim Unclaimed Share?

Recovery of Shares in India- Find Lost shares and lost dividends

Any person whose shares, iepf unclaimed dividends, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, or other property has been transferred to the Fund may claim the shares under the provisions of sub-section (6) of section 124 or apply for refund under clause (a) of sub-section (3) of section 125. Claimants will get a refund from the Fund. To recover lost share please read this article and mail us your query. 

Any person who has had unclaimed shares or underpaid payment transferred to IEPF by the corporation may request a return from the IEPF authorities. Claimants must submit form IEPF-5 together with the required papers to be eligible for such a payment.

Description

Application  to the Authority for a claim against the Investor Education and Protection  Fund for unpaid sums and shares (IEPF)

e-Form

IEPF Form-5

e-Form  with Instruction kit

IEPF Form-5

 How to Claim Unclaimed Share With MUDS

Let’s Understand the Procedure to recover lost share 

1. Before filling out the form, carefully read the directions on the website/instruction pack as well as the e-form.

 2. After you've finished filling out the form, save it to your computer and submit it by following the directions under the upload link on the website. An acknowledgment with the SRN will be produced if the upload is successful. Please make a note of the SRN so that you can trace the form in the future.

3. Print the completed IEPF-5 and the acknowledgement page that appears when you submit the form.

4. Submit the original indemnity bond, a copy of the acknowledgement, and a self-attested copy of the e-form, as well as the additional papers listed in Form IEPF-5, to the company's Nodal Officer (IEPF) at its registered office in an envelope labelled "Claim for reimbursement from IEPF Authority."

5. Completed claim forms will be validated by the relevant firm, and refunds will be issued by the IEPF Authority in favour of claimants' Aadhaar-linked bank accounts via electronic transfer based on the company's verification report.

 Time Limit: An application for a refund of any claim under this regulation that has been fully validated by the relevant firm must be received by the Authority within 60 days of the date of receipt of the company's verification report.

 Find Lost Shares With MUDS

MUDS have recovered shares of ITC, Matrix Labs, JSW, Infosys, Tata Steel, Asian Paints, and numerous other firms for customers all over the world, most notably in the UAE, the United Kingdom, the United States, Canada, Australia, and Germany.

 Stuck with the question, how to claim unclaimed shares? Email us your query at muds.co.in with following documents for Recovery of Shares in India: 

·         if there are any copies of dividend warrants,

·         if there are any copies of (old) certificates, 

·         if there are any copies of letters from the company/registrar,

·         if there are any copies of bank statements indicating dividend receipts, if there are any

 Recover lost share Now- We extensively evaluate any outdated or incomplete papers and proofs you send us before accepting work. We need clarification from the company / RTA regarding the alleged lost shares. Only then will we be able to confirm the following stages, as well as the time and cost. Until this stage, there is no expense to the client. Only if the customer agrees to the terms and conditions will the legal procedure begin. On behalf of the customer, we will communicate directly with the company, registrar, banks, lawyer, court, notary, and other relevant parties. Making things easy for you to find lost shares. 

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TOP RECOVERY OF SHARES FIRM IN INDIA 

 Do you have Dismantled Shares?

If you have dismantled shares or you have lost share documents then read this post for more details. 

Physical share certificates were used in the early days of investing in stocks. Investors' investments in a corporation, whether in the form of shares or debentures, were allotted in physical form. Due to the fact that these shares/debentures were in paper form, they were difficult to keep and readily destroyed or lost. It was difficult to keep them safe in paper form since investors would ultimately lose or Dismantled Shares them for a variety of reasons, including relocation, wear and tear on the share/Debenture certificate, and so on. There might be a number of causes for such an unclaimed physical investment, as described below.

·  Shares that have been lost

·  Shares that have been dismantled

·  Torn Stocks or dismantled shares

·  Shares that have been forgotten

·  Original Shareholder's Death

Recovery of shares firm in India with MUDS

1.     MUDS assists in the claim of shares from the IEPF (Investor Education and Protection Fund, Government of India), where the shares and dividends have been transferred to the government. 

2.                 . Once the shares are transferred to IEPF, the investor must execute a number of procedures in order to get this right, including approaching the company's Nodal Officer for verification and then approaching IEPF to claim the shares.

WHY MUDS FOR Recovery of shares firm in India

MUDS is a devoted group of specialists with specialized knowledge of unclaimed assets. We offer a specialized solution for lost, forgotten, or blocked investments in financial instruments like stocks, mutual funds, provident funds, insurance, postal savings, and bank accounts, among others.

MUDS Management is a specialist in recovering your investments and best option for Recovery of shares firm in India

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International Inheritance Advisory | Filfox Share Solution

Introducing Filfox Share Solution, the ultimate tool for international inheritance advisory. Our innovative platform provides comprehensive guidance for individuals looking to navigate the complexities of passing on shares across borders. With Filfox Share Solution, you can ensure a smooth and efficient transfer of assets to your loved ones. Trust us to handle your international inheritance needs with professionalism and expertise.

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Estate Planning Advisory Services in India | Filfox Shares

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Succession and Inheritance Planning In India – Filfox Share Solutions

Filfox Share Solutions offers tailored and comprehensive succession and inheritance planning in India. Our team of experts is here to help you navigate the complex legal and financial landscape to ensure your assets are protected and distributed according to your wishes. Trust us to provide you with peace of mind and security for the future.

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Filfox Share Solutions specializes in the recovery of unclaimed and lost shares in India. With our expert team and advanced technology, we can help individuals and companies track down their assets and ensure they are rightfully returned. Trust us to handle your share recovery process with professionalism and efficiency.

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Forget NFTs, here’s why Nestle and HUL are what you need

As of February 2022, shares of Nestle India are floating in the market at a price of more than Rs 18,000 per share and the shares of HUL are floating at over Rs 2,000 per share. You may not be much of a trader, but what if you got to know that you actually happen to own some shares of these companies? This happens when the recovery of shares is overdue. Let’s learn more about what they are and how they could make you a fortune.

Role of IEPF in the case of unclaimed shares

The government of India created the Investor Education and Protection Fund (IEPF) to educate investors and safeguard them from losing control of their assets and stock. There are innumerable instances of investors failing to appoint a nominee for their shareholdings. This means that if the investor passes away, their investments are transferred to the government along with any unclaimed dividend money. These funds may then be used by the government as they deem fit unless the investor’s rightful heirs make their claim. The IEPF allows and encourages investors to contact the government to demand their dividends and request that their long-forgotten shares be refunded thereby facilitating lost shares recovery. The IEPF was established with the shareholders’ best interests in mind and it helps safeguarded the monies of investors while also raising awareness about the issue.

Investors can petition the government to receive the unclaimed dividends and unclaimed shares up to 7 years after they were deemed lost. Typically, people used to approach respective companies individually to get information about and then collect their dividends and shares. However, the IEPF is a one-stop solution that enables the public to claim their rightful inheritance from multiple companies through a single channel when it comes to the matter of recovery of unclaimed shares.

Why Nestle can be your ideal investment

The present status of the dividends and shares of a firm that are transferred to the IEPF account is stated in the company’s annual reports. All unclaimed dividends dating back to the financial year 1995-1996 that remained due and unclaimed with the business were transferred to the Central Government’s general revenue account, according to Nestle India Ltd.’s Annual Report for 2019-2020. Below is a snapshot of the value of the latest dividends that were transferred and are now up for IEPF claim.

Over the years, Nestle has also rewarded its investors with a generous number of bonus shares. Below is a history of bonus shares announcements by the company and what it means for an investor.

100 shares of Nestle India owned in 1982 would turn into 960 shares less than 15 years later. This coupled with the generous dividends that the company pays makes it a hugely profitable investment. To date, the company has distributed 60 dividends totaling Rs 1,292.5 per share to its shareholders. As per the latest available data, the company most recently announced a dividend of Rs 196 per share.

Let’s visualise the financials at stake in this case with an example.

Let’s assume you have 500 shares of Nestle India Ltd. registered under your name. The price of 1 share of Nestle India Ltd. as of February 2022, is Rs 18,515. Therefore, the value of your shares as of today is Rs 18,515 x 500 shares = Rs 92,57,500 (Ninety two lakhs, fifty-seven thousand and five hundred rupees).

However, this only takes into account the share price and not the dividends attributed to those shares. The amount of dividend received thus far (from 2001) is Rs 1,292.5 x 500 shares = Rs 6,46,250 (Six lakhs, forty six thousand, two hundred and fifty).

Dividend received in the latest financial year amounts to Rs 196 x 500 shares = Rs 98,000 (Ninety eight thousand).

Putting all these figures together makes you a crorepati!

Assume you made a long-term investment in this firm and then completely forgot about its stock. Alternatively, you may have inherited some shares from a deceased family member that you were unaware of. As a result, you would not have claimed any dividends on these shares for the past seven years. In this case, the shares would have been moved to the Government’s IEPF account, and they are no longer in your ownership. This does not necessarily imply that you are no longer the legal owner of such shares. The main difference is that the government holds your shares and dividend amount in trust on your behalf. You can always make an IEPF shares claim from the government.

How Rs 2430 invested in HUL in 1978 can be worth over Rs 13 crores today

Hindustan Unilever Limited’s stock has risen dramatically over the years, prompting the company to issue bonus shares and divide its equity. We’ll see how, at today’s rates, even a small investment in Hindustan Unilever Limited could be worth crores. Let’s look at a hypothetical situation to better comprehend the growth of the company.

Suppose an investor had 900 shares of Hindustan Unilever Limited registered in 1978 which would have cost approx Rs 1200 considering the share price of HUL at the time was around Rs 2.7 per share. The prices of Hindustan Unilever Limited shares have kept on increasing since 1978 and the company has announced bonus shares on numerous occasions during that time period as well. As a result of those bonuses and the share splits announced by HUL, those 900 shares will be equivalent to 57,600 shares today.

This means that as per February 2022 share prices, you would stand to gain a fortune of 57,600 shares X Rs 2,332.95 = Rs 13,43,77,920 (Thirteen Crores, forty-three lakhs, seventy seven thousand, nine hundred and twenty).

The above figure only accounts for the share price and not the dividend declared. HUL has declared both interim and final dividend over the years which has been exponentially rising. In 2021, the company declared a mammoth dividend of Rs 17,000 per share! The calculator of the payout basis 57,600 shares in the previous example is something that we will leave to you.

IEPF shares recovery process

The process of IEPF recovery is rife with hurdles and often specialised knowledge from experts may be required. It involves the following steps:

Making your IEPF claim

By now we have learned how HUL or Nestle shares purchased decades ago may be worth crores in today’s market. We have also learned how the process of recovery of shares from IEPF would be quite advantageous for investors, but tedious in nature. This is due to the fact that the procedure necessitates continual communication with nodal offices of the company, IEPF department, and registrar This may prove to be a lot of work for busy investors. This is where the team of experts at Infiny Solutions (add website hyperlink) can come to your rescue. Our experienced professionals have successfully completed the recovery of lost shares of Nestle, HUL, and many other companies for numerous clients over the years. If you think you may have inherited HUL or Nestle shares from someone in your family, we can help process your claim even if the share certificate in your possession is mutilated or you only have partial information about a potential claim. As part of our exclusive services, we facilitate the process through respective registrars, nodal officers, and IEPF till the very end when your claim is eventually sanctioned. All you have to do is sit back and wait for a fortune to be credited to your account!

Blog Source:- https://infinysolutions.com/forget-nfts-heres-why-nestle-and-hul-are-what-you-need/

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Unclaimed Investments Unveiled: Your Path to Financial Rediscovery | Rurash Financials

Embark on a voyage of financial rediscovery with Rurash Financials, as we unveil the world of lost, forgotten and other unclaimed investments in India. Reclaim your share of unclaimed wealth and embark on a journey through the recovery process, armed with expert insights. Safeguard your financial legacy through effective strategies that preserve unclaimed assets. Dive into the depths of unclaimed investments and their significance by exploring: https://rurashfin.com/unclaimed-investments-in-india/