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Schedule IV

Procedure to be followed while disposing the claims

 

The company shall be responsible for verifying the genuineness and entitlement of the claimant by doing the necessary verification through Aadhar Card, PAN Card, Passport, any other Government ID proof, matching of signature and photo etc. The company shall verify such documents as may be required and enumerated in form IEPF-5 and retain the originals submitted by the claimant. The company shall be responsible to verify the amount and shares involved in the claim according to the e-filings made by it to the Authority. The company shall submit e-verification report to the Authority.

2. “The Authority shall follow following indicative procedures while disposing the claims:

(i) Completeness of all the information provided in Form No. IEPF-5.

(ii) Matching of information in the e-form with the scanned documents attached with the claim.

(iii) Affidavit and other supporting documents viz. Gazette Notification for name change, marriage certificate, other identity proof etc. for change orvariations in name in various documents, share certificates etc.

(iv) Affidavit and other supporting documents for change or variations in address in various documents, share certificates, current address and address recorded in share certificate or Form No. IEPF – 4 or other places.

(v) Indemnity on stamp paper of appropriate value in the name of claimant as per Stamp Act

(vi) Verification of the PAN details of the Claimant with Client Master List (CML) and with the Government data base.

(vii) In case of claim related to physical securities, authentication of scanned copy of the certificate attached with Form No. IEPF-5 e-form by the company.

(viii) Verification and matching of DEMAT Account No., Name of claimant, PAN, Address from the CML.

(ix) Matching of CML of unclaimed suspense account in case the transfer of shares has taken place from the unclaimed suspense account from the company. Verification of transaction statement of the unclaimed suspense account of the company. At any point of time, details of every investor whose shares have been transferred from unclaimed suspense account, may be called from depository.

(x) The details of amount due to the claimant are to be verified from e form IEPF-1 or INV-1 or IEPF-1A. In case of non- availability of the data in MCA system, proportionate deductions in the refund amount can be made.”

3. In addition to the above, the authority may seek any other documents, clarification etc. from the claimant or the company as and when required for disposing the claim.