Monday, July 18, 2016

What is the procedure for getting revalidation for the expired dividend warrants?



The validity of the cheques, interest warrants and dividend warrants is three months only and you cannot encash the dividend warrants at present with the banks.
You do the following two activities:
  • Provide your bank account number, name of the bank, branch, IFSC code etc. to the depository (Bank branch maintaining your demat account). Once the details are recorded in their records, further dividends will be credited to your account through ECS facility and you will be getting information about such credits
  • For the expired dividend warrants - segregate them company wise. Take photocopies for all dividend warrants. For each company (Their registered office or investor relation centre) write a letter thereby furnishing the details of expired dividend warrants and request them to revalidate those dividend warrants. The company/investor relation centre will revalidate those dividend warrans and return them back to you and immediately deposit those dividend warrants with your banker. This is the only way by which you can get your entire amount of Rs. 10000.00; however, you have to spend at least Rs. 200 for sending the dividend warrants by registered post/courier to the companies. You have to prepare the letters and send them by post. Keep the copies of those letters along with copies of dividend warrants safely with you till such time the issue is settled.
  • The following is the format of letter which you can make use for sending your expired dividend warrants to the companies
  • From                                                                               Place:
                                                                                          Date:
    Name:
    Address:



    Contact mobile number:

    To:
    The Registrar
    …………………………………………………………….(Company Name)
    ……………………………………………………………..(Address of the company



    Dear Sir:

    Sub: My shares in your company – Revalidation of expired dividend warrants
    ------

    I am having shares /debentures in your company as per details mentioned below and in respect of the dividend warrants sent to me, I could not present the dividend warrants to the banker in time on account of some personal reasons and at present I am unable to present them to my banker since they have become stale dividend warrants (More than the validity period)

    I am sending the dividend warrants to you and I request you to kindly revalidate the dividend warrants and send me the revalidated dividend warrants to my abovementioned address at an early date so that I can deposit them with my banker.

    1. Details of shareholder and depository participant:

    S.No.
    Details required
    Details submitted
    01
    Name of the depository participant – (Bank/Company where demat account is maintained)


    02
    Depository participant id


    03
    Name of the customer(Shareholder)

    04
    Client id


    05
    LD code (if any)

    06
    Name of the company



    1. Details of expired dividend warrants:

    S.No.
    Dividend warrant Number
    Date of dividend warrant
    Amount

    Name of the bank
    Name of the bank branch
    Rs.
    P.
























































    I request you to do the needful and send the revalidated dividend warrants at the earliest

    Thanking you,

    Yours faithfully,




    Signature.


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