Unclaimed Shares

In view of the above provisions, the Bank has sent individual notices to the respective shareholders through permitted mode on their latest addresses available with the Bank / Registrar and Share Transfer Agent (‘RTA’), inter alia, providing the details of shares due to be transferred to IEPF Authority. In addition to the individual notices and in compliance with the IEPF Rules, the Bank has also been issuing newspaper notices, for the benefits of the Shareholders, in the leading newspaper in English and in regional language having wide circulation, informing the concerned shareholders that their names and folio number/ DP ID - Client ID are available on the website of the Bank with the website address. Accordingly, in compliance with the IEPF Rules, newspaper advertisement was made by the Bank on April 12, 2024, intimating the concerned shareholders about the due date for transfer of shares to IEPF on or after July 13, 2024. The said newspaper advertisement was made in Financial Express (English edition), in EI Samay (Bengali edition) and in Financial Express (Ahmedabad-Gujarati edition). To view the last newspaper advertisement,

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A. List of shareholders whose shares are liable to be transferred to IEPF Authority on or after July 13, 2024.

Unclaimed shares

B. Due dates for transfer of Shares to IEPF Authority

The shareholders who have not claimed the dividend for seven consecutive years are requested to claim the unclaimed dividend amount(s) well within the due dates, failing which their shares will be transferred to IEPF Authority within 30 days from date of completion of seven years. The due date for such transfer is mentioned hereunder for your information:

As per provisions of Section 124(5) of the Companies Act, 2013 and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (IEPF Rules), any money transferred to the Unpaid Dividend Account which remains unpaid or unclaimed for a period of seven years from the date of such transfer shall be transferred to IEPF. Further, in terms of Section 124(6) of the Companies Act, 2013 and the IEPF Rules, all shares in respect of which dividend has not been paid or claimed for 7 consecutive years or more, shall be transferred by the Bank to IEPF. 

Therefore, shares on which dividend was not claimed by the shareholder for 7 consecutive years or more has already been transferred to IEPF. Once the shares are transferred to IEPF, all the future benefits accruing to such shares including dividend are also transferred to IEPF. 

However, once the equity shares or dividends are transferred to IEPF, the concerned shareholder/claimant can claim the same from IEPF Authority, by following below process:

1. By making a request to the Bank/ RTA along with physical copy of the requisite documents as enumerated in the web based Form IEPF – 5 and IEPF Rules, duly signed, in original, for issuance of ‘Entitlement Letter’, at the addresses mentioned in the below tab ‘Contact details of the Nodal Officer /RTA’.
   (In terms of IEPF Circulars, the Bank is required to verify all the documents before issue of Entitlement Letter. Accordingly, you are requested to submit the original documents complete in all respect pertaining to the claim to the Bank or its RTA)
2. After due verification of documents by RTA/the Bank, Entitlement Letter would be issued to the eligible claimant. On receipt of Entitlement Letter, make an application in web based Form IEPF-5 available at https://www.mca.gov.in/ along with Entitlement Letter; and
3. Thereafter, send the self-certified copy of Form IEPF-5 along with acknowledgment generated on filing of Form IEPF-5, and signed copy of the Indemnity Bond, to the Bank/RTA.  

Further, in terms of the provisions of the IEPF Rules, the Bank is required to submit the e-verification report to the IEPF Authority within 30 days from the date of filing of web-based e-form IEPF-5. In case the original documents complete in all respect is not received by the Bank well within 30 days from the date of filing of web-based e-form IEPF-5, the Bank would be bound to file e-verification report for rejection of such claims. Upon submission of e-verification report by the Bank, the IEPF Authority shall verify the documents as submitted by such shareholder may approve/ reject such claim.

For more information, shareholders are requested to refer the link mentioned below:

https://www.iepf.gov.in/content/iepf/global/master/Home/Home.html

Bandhan Bank Limited
Secretarial Department
Floors 12-14, Adventz Infinity@5
BN 5, Sector V, Salt Lake,
Kolkata – 700 091
Tel.: 033-66090909
E-mail: investors@bandhanbank.com
Website: www.bandhanbank.com

KFin Technologies Limited
(Unit.: Bandhan Bank Limited)
Selenium Tower B, Plot 31&32, Financial District,
Nanakramguda, Serilingampally Mandal
Hyderabad 500032, Telangana.
Tel.: 1800-309-4001
E-mail: einward.ris@kfintech.com