OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS INDIAN DEPOSITORY RECEIPTS - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS INDIAN DEPOSITORY RECEIPTS - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Regulation 61A - Dealing with unclaimed non-convertible securities and benefits accrued thereon
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Chapter V OBLIGATIONS OF LISTED ENTITY WHICH HAS LISTED ITS NON-CONVERTIBLE SECURITIES
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Unclaimed non convertible securities: funds must be escrowed and ultimately transferred to an investor protection fund after seven years. Listed entities shall not forfeit unclaimed interest, dividend or redemption amounts on non convertible securities. If unpaid thirty days after the due ... Summary
Unclaimed non convertible securities: funds must be escrowed and ultimately transferred to an investor protection fund after seven years.
Listed entities shall not forfeit unclaimed interest, dividend or redemption amounts on non convertible securities. If unpaid thirty days after the due date, such amounts must be moved to an escrow account within seven days (with transitional treatment for amounts outstanding for under seven years). Any escrowed amount unclaimed for seven years must be transferred to an Investor Protection and Education Fund (via Companies Act procedures for companies or the Board's fund for non company entities) and such transferred amounts shall not bear interest; the Board will specify claim procedures.
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