Unclaimed shares are moved to suspense accounts, corporate benefits accrue there, and voting rights remain frozen until claimed. Listed entities must send three reminders to recorded addresses; absent a response demat shares go to a demat suspense account and physical shares to an ... Summary
Unclaimed shares are moved to suspense accounts, corporate benefits accrue there, and voting rights remain frozen until claimed.
Listed entities must send three reminders to recorded addresses; absent a response demat shares go to a demat suspense account and physical shares to an "Unclaimed Suspense Account" which is dematerialised. The entity must keep individual allottee records, hold shares on behalf of allottees, and transfer shares only to verified claimants. Corporate benefits accrue to the suspense accounts for seven years and voting rights on such shares remain frozen until claimed.
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