Ashika Credit Capital Notifies Share Transfer to IEPF

Ashika Credit Capital Ltd. has issued a notice detailing the impending transfer of equity shares associated with unpaid dividends from FY 2018-19 to the Investor Education and Protection Fund (IEPF). The company has set a firm deadline of September 13, 2026, for shareholders to claim their dividends and retain ownership of their shares. This action is a regulatory requirement for shares where dividends have remained unclaimed for seven consecutive years.

What Happens to Unclaimed Shares and Benefits

The notice, dated April 1, 2026, clarifies that shares linked to dividends unclaimed for seven or more consecutive years, starting with FY 2018-19, will be transferred to the IEPF. All corporate benefits, such as future dividends or bonus issuances, that would normally accrue to these shares will be credited to the IEPF Authority. Furthermore, voting rights attached to these shares will be suspended until the rightful owner claims them.

Why Shareholders Must Act by September 13, 2026

For shareholders holding shares in Ashika Credit Capital, failing to act by the September 13, 2026 deadline means a permanent loss of ownership. Any future benefits associated with these shares will be forfeited, and no subsequent claims can be made against the company for shares transferred to the IEPF after this date.

About Ashika Credit Capital and the IEPF Process

Ashika Credit Capital Limited, an NBFC established in 1994, offers a range of financial services including lending and investment banking. The transfer of shares with unclaimed dividends to the IEPF is a standard regulatory procedure in India. Companies are mandated to transfer both the dividends and the corresponding shares to the IEPF Authority when dividends remain unclaimed for seven consecutive years, serving as a mechanism to safeguard these assets for their owners.

Steps for Shareholders to Claim Their Holdings

Shareholders who have unclaimed dividends for FY 2018-19 are strongly advised to initiate the claim process promptly. To retain ownership, they must complete the necessary claim procedures and submit all required documentation to Ashika Credit Capital or its Registrar and Transfer Agent (RTA) well before the September 13, 2026 deadline. It is recommended to follow company communications for specific instructions.

Consequences of Missing the Deadline

The ultimate consequence of inaction for shareholders is the irreversible loss of their shares and any associated benefits. Once shares are transferred to the IEPF after September 13, 2026, the company will no longer be liable for them, and recovery of ownership will be significantly more complex, if not impossible.