I have not got the bonus shares issued by the company as well as dividend declared over the years. What shall I do?

Sanjay Korde, email

A company is required to open a special unpaid dividend account with a bank to which must be transferred all the unclaimed and unpaid dividends after 30 days of the declaration.

This must be done within a week of the end of 30 days reckoned from the date of declaration of dividend.

If it remains unclaimed for seven years, the company has to transfer the amount to investor protection fund maintained by the government and the shareholder concerned can make a claim thereon.

You can always take up with the company the issue of non-receipt of bonus shares.

If your shares are held in demat account, check your demat account which is digitalised and can be accessed on the internet.


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(This article was published in the Business Line print edition dated August 23, 2010)
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