Reliance Industries conveyed to its shareholders that unclaimed shares will be transferred to the Investor Education and Protection Fund (IEPF)Authority, under the Ministry of Corporate Affairs (MCA).
Reliance Industries Limited (RIL), on Friday in a regulatory stated that unclaimed shares would be transferred to the Investor Education and Protection Fund (IEPF) Authority,
under the Ministry of Corporate Affairs (MCA). Unclaimed dividends for seven consecutive years will cause shares to be transferred to a government fund.
In a public notice dated May 24, 2024, Reliance Industries conveyed to its shareholders that unclaimed shares would be transferred to the Investor Education and Protection Fund (IEPF)Authority, under the Ministry of Corporate Affairs (MCA). The notice read, "In case the company does not receive any communication (claiming the unclaimed/unencashed dividend) from the concerned shareholders on or before August 26, 2024, the Company shall, with a view to complying with requirements set out in the Rules, dematerialize and transfer the shares to IEPF Authority by way of corporate action as per procedure stipulated
in the Rules."
Reliance will transfer shares to the government, if shareholders do not claim it. The notification further read, "The Company has, vide its letter dated May 21, 2024, communicated individually, to the concerned shareholders whose shares are liable to be transferred to IEPF Authority during the financial year 2024-25 for taking appropriate action."
Steps to check if your Reliance shares will be transferred to government fund
Reliance Industries has formed a dedicated webpage using which you can check if your Reliance shares are eligible for transfer to the Investor Education and Protection Fund (IEPF) Authority.
Step 1: Open: https://www.ril.com/investors/shareholders-information/dividend-shares
Step 2: Click on 'Details of Equity Shares Liable for Credit to IEPF Authority'. There will be two options - 'Year Interval' and 'DP ID/Client ID/Folio Number. Add the details and click on the 'Apply' option.
Now you can see details of your Reliance shares if they are eligible for a transfer to IEPF.
However, if your shares are already transferred then select on 'Details of Equity Shares Transferred to IEPF Authority' and enter the 'Base Year' and DP ID/Client ID/Folio Number.
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 "Reliance Industries to transfer unclaimed shares to government by this date; Know steps to check and claim")
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