What is an unclaimed redemption or dividend?
Unclaimed dividends or redemptions are amounts that are paid/released by the company but are not credited to the bank account of or claimed by the investor.
The investor can claim the these the following scenarios:
- The investor is unaware of the dividend declaration
- The investor has shifted his residence/address and therefore has missed the dividend cheque.
What is the process to claim these amounts?
- In case an outdated/mutilated demand draft(DD) is available and the bank account remains unchanged, the investor can send the same to our branch/official transaction points with a request letter for reissue. (View list of branches or transaction points) After due verification by Karvy Fintech Private Limited our RTA, a fresh DD will be issued/obtained and sent to the investor’s registered mailing address.
- In case demand draft is not available and/or bank details have changed the investor can claim the unpaid dividend/redemption by sending a request to our branch/RTA along with a request letter and an indemnity bond (if RTA is unable to verify the identity or signature mismatch with the records).
Change of Bank Mandate (If any) process below.
- Cancelled original cheque of the new bank & old mandate with first unit holder name & bank account number printed on the face of the cheque (OR)
- Self attested copy of bank statement (OR)
- Bank pass book page with account number, account holder's name and address with current entries not older than 3 month (OR)
- Bank letter duly signed by branch manager/ authorized personnel (Bank letter should be on its letterhead certifying that the unit holder maintains/ maintained an account with the bank), the bank account information like PAN, bank account number, bank branch, account type, the MICR code of the branch & IFSC code
On receipt of this Karvy Fintech Private Limited, our RTA will verify particulars and thereafter issue a DD against the outstanding balance in its unpaid dividend/redemption.
Please note our RTA/AMC reserves the right to ask for any additional information/documents as deemed necessary to substantiate/validate the investor’s details and/or genuineness of request for release of unpaid dividend/redemption proceeds.
List of branches to submit Claim Form