1. What are the different modes for payment of dividend?

The dividend is paid under two modes viz.-
(a) Through National Electronic Clearing Service (NECS)
(b) Payment through dividend warrants

Please note that the shareholders holding shares in demat form, who have registered their bank details with the DP will receive the dividend directly through NECS.

 

2. What is payment of dividend through NECS Facility and how does it function?

Reserve Bank of India's NECS facility provides shareholders an option to receive dividend directly in their bank account(s) rather than receiving the same through physical warrant(s). Under this option, the bank account of the shareholder is directly credited and the confirmation thereof is sent by the Company after the transaction is effected. The concerned bank branch credits shareholder's account and indicates the credit entry as "NECS" in his/ her passbook/ statement of account. If any shareholder maintains more than one bank account, payment can be received at any one of his/ her accounts as per the preference of the shareholder. The shareholder does not have to open a new bank account for the purpose.

 

3. How to avail of NECS Facility?

To avail this facility, the shareholders holding shares in physical form are requested to download the NECS form available under the tab "Investors" and send the same to the RTA.


Shareholders holding shares in dematerialized form, have to lodge their request with the concerned DP, in the format prescribed by the DP.

 

4. Can NECS Facility be opted out by shareholders?

Shareholders have a right to opt out from this mode of payment by giving advance intimation at least four weeks, prior to payment of dividend, either to the RTA or to the concerned DP, as the case may be.

 

5. Even though I had given my Bank details for NECS purpose to the RTA/ DP, why did I receive the dividend through warrant instead of crediting the same to my bank account?

Sometimes it may happen that the dividend may not get credited in the bank account due to rejection by the receiving bank due to various reasons like Beneficiary name mismatch, IFSC code mismatch, account not operative for a long time or other similar technical reasons. Due to the above said reasons you might have received the dividend through dividend warrant. We request you to provide the correct details of your bank account to the RTA/ DP as the case may be.

 

6. What is the procedure for revalidation of dividend warrants?

Shareholders who have not encashed their dividend warrants within the validity period may send a request of revalidation to the RTA together with such outdated dividend warrants. The RTA after due verification of the records, will arrange to issue a demand draft in lieu of the unencashed dividend warrant(s).

 

7. What happens to the unclaimed dividend?

The proceeds of unclaimed / unpaid dividend warrants are required to be transferred to Investors Education and Protection Fund (IEPF) after expiry of 7 years from the date of transferring to the unpaid dividend account of the Company in accordance with the provisions of Section 205A /205C of the Companies Act, 1956. After the transfer of the proceeds to IEPF, no claim of the Investor(s) will be entertained.

 

8. How do I know whether any dividend for the previous years is still remaining unpaid?

The excel sheets containing the investor wise details of unpaid dividends which are not transferred to the IEPF are uploaded on the website of the Company under the tab Investors in 'Other Information'.

 

9. Who is the Registrar and Share Transfer Agent of the Company and where can I find its contact details?

The Registrar and Share Transfer Agent (RTA) of the Company is Link Intime India Private Limited and its contact details are as under:

Link Intime India Private Limited, (Unit: KEC International Limited), C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai - 400078, Tel: (022) 25946970, Fax: (022) 25946969, E-mail Id: rnt.helpdesk@linkintime.co.in

 

10. I have not received the dividend on shares of the Company held by me. What should I do to claim the unpaid dividend?

The shareholders who want to claim the unpaid dividend will have to submit a duly signed request letter quoting the necessary details of their shareholding along with the format of undertaking to the RTA or the Company Secretary of the Company. On verification of records the RTA would process the request for issuance of demand draft in lieu of unpaid dividend warrants.