FAQS
Q.1 I have not received my dividend. What action do I take?
A. You may write to the Investor Services Department furnishing the particulars of the dividend not received. Also quote your folio number/client ID particulars (in case of dematted shares). We will check our records and issue a duplicate dividend warrant if the dividend remains unpaid in the records of the company.
Q.2 What is the procedure for obtaining a duplicate dividend warrant?
A. No duplicate can be issued during the validity of the original warrant. Hence, if the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date. However, once the validity period has expired, if the dividend warrant is still shown as unpaid in our Bank Statement, we shall issue a duplicate warrant to you expeditiously.
Q.3 Why do shareholders have to wait till the expiry of the validity period of the original warrant? Is it possible for you to issue stop payment instructions to the bank for the original warrant and issue a duplicate immediately?
A. Since the dividend warrants are payable at par at almost 100 centres all over the country, it is not practically possible for banks to issue stop payment instructions. Hence. it becomes necessary for us to wait till the validity of the original warrant has expired.
Q.4 Can I claim old dividends relating to past years that I have not received?
A. As per the present law, the company retains all unpaid/unclaimed dividends for the past seven years i.e. from final dividend paid in July 1997. If you have not received any of these dividends, you may write to the Investor Services Department with relevant particulars like folio number, concerned dividend, etc., and we shall arrange to pay the dividend if it remains unpaid in our records.
Q.5 In order to protect against fraudulent encashment, I want to incorporate the details of my bank account in my dividend warrant. What is the procedure that I should follow?
A. If you hold shares in the physical form, please submit your folio number, details of name, of your bank and account number to our Investor Services Department and we shall incorporate the same in all your future dividend warrants.
However, if you hold the shares in demat form, these details will have to be provided to the Depository Participant with whom you have a demat account. Your Depository Participant in turn will pass on this information to the company. This procedure is in accordance with depository regulations.
Q.6 Can I authorise my bank or any other person to receive dividends on my behalf?
A. Yes. Please write to us and furnish the name and address of the authorised person/bank along with your folio number. We shall then record your instructions and dispatch the warrant to the mandatee.
Please note that this procedure is applicable only if you hold shares in physical form.
Q.7 Why can't the company take the bank details on record in case of dematted shares?
A. As per the Depository Regulations, the company is obliged to pay dividend as per the details of demat shareholders furnished by the concerned Depository Participant. The company cannot make any change in such records received from the Depository.
Q.8 What is Electronic Clearing Service (ECS)?
A. Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in the physical form. We would strongly recommend that you opt for Electronic Clearing Service, if you have not done so already.
Q.9 How can I avail of the Electronic Clearing Service facility?
A. You are required to submit the ECS form duly completed along with a photocopy of a leaf of your cheque as advised in the Form and we shall take due note of the same in our records. All subsequent dividends will be paid to you through direct credit to your bank account.
Q.10 Is the ECS facility available across the country?
A. No. The Reserve Bank of India has enabled ECS facility at select cities only. Our company provides this facility at Kolkata, Delhi, Chennai, Ahmedabad, Pune, Mumbai, Bangalore and Hyderabad.