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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Process for unclaimed shares, suspense accounts, and frozen voting rights, with corporate benefits governed by section 124</h1> Listed entities must send at least three reminders to security holders at specified addresses before treating shares as unclaimed. If no response is received, unclaimed demat shares are credited to a demat suspense account, while physical shares are consolidated into an 'Unclaimed Suspense Account' and dematerialised. The entity must maintain detailed records for each allottee, hold such accounts solely on behalf of rightful owners, and restrict transfers except upon valid claim. On verification, shares are credited to the allottee's demat account. Corporate benefits (e.g., bonus, split shares) on unclaimed shares are similarly credited for seven years, after which they follow Companies Act section 124. Voting rights remain frozen until claimed.
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