How to Recover Unclaimed Dividend of HCL Technologies from IEPF?

What’s rightfully yours should be yours no matter what that is. If it’s unclaimed dividends from HCL Technologies, India, then you have full rights to get the share back under your authority.

When you don’t claim your dividends, they are transferred to the Investor Education and Protection Fund (IEPF) due to the dictates of formal rules established by the Ministry of Corporate Affairs (MCA).

At this stage, your ownership of the HCL Technologies shares or dividends does not change. What changes is that the authority is protecting it.

Although it is easy and possible to get back your unclaimed dividend from IEPF, you should take note that what you’re looking at is a lengthy process. You are not supposed to make mistakes and supply verified evidence to restore your share ownership.

This post can help you with that if you’re interested in reading all of it.

What is an Unclaimed Dividend? 

An unclaimed dividend from HCL Technologies is nothing but the company’s shares you own, but you don’t have access to them when you haven’t interacted with those shares for a long time.

Let’s say you didn’t check your shares, work with them, update your shareholder/ investor information, make transactions, then it marks your ‘inactivity’ regarding the dividend.

In a situation like this, the HCL Technologies shares reach the IEPF when a certain set of parameters is observed.

With share prices from HCL Technologies being Rs. 1657.45/ -, you don’t want to keep your shares unclaimed for a long time.

Plus, this share price indicates something productive. Did you not discover that HCL Technologies’ recent share prices in India increased by 0.18%?

That’s certainly the sort of news to get you started with the recovery of the unclaimed dividend from HCL Technologies.

How Do Dividends and Shares Become Unclaimed? 

When you didn’t claim or interact with your HCL Technologies shares or dividends, they require protection because the ownership status becomes inactive.

A shareholder or investor, no matter what the amount of dividends they have, would have to claim dividends to restore ownership.

However, why do the unclaimed shares move to the IEPF?

We may find the answer to that in these two points below:

1. IEPF Protects Your Shares after 7 Years of Inactivity

Well, regulations dictated by the MCA (Ministry of Corporate Affairs) state that your HCL Technologies unclaimed dividends move to the IEPF authority when you haven’t interacted with your shares and claimed them for 7 years in a row. After this time, it is mandated that your HCL Technologies unclaimed shares (or shares from any company) move to the IEPF.

2. What Are the Specific Reasons for Unclaimed Dividends

As mentioned earlier, unclaimed dividends happen when the shareholder or investor cannot interact with HCL Technologies. Many reasons can cause a shareholder or an investor may miss out on claiming shares. Reasons like not getting time to understand the share status and interact with it, the unfortunate death of the shareholder/ investor, and more.

Step-by-Step Process for Recovery of HCL Technologies Unclaimed Dividends from IEPF 

Now that you know your HCL Technologies shares are here with the IEPF authority, you don’t have to worry about your ownership status. The fact that IEPF is protecting your HCL Technologies shares does not mean that your ownership has changed. What you need to do here is look for sound ways for unclaimed dividend recovery from IEPF, about which the following points may give you some guidance.

Step 1: Verify if Your Dividend or Shares Are with IEPF 

The first thing you will need to do is to check whether or not your share is transferred to IEPF, and if you have the values as you have calculated. If it has been seven years since you last checked your status or made transactions, then it is likely that your HCL Technologies shares and share details are all transferred to IEPF.

However, before doing anything, you want to find out if you have your shares with IEPF. To do that, you’re supposed to visit the IEPF website or the MCA website and then navigate to the IEPF section. There is another way, though. Logging in to SWAYAM, a portal that the HCL Technologies registrar has created, you can check whether or not you have received your shares transferred to the IEPF.

Step 2: Gather Required Documentation 

When you are claiming your unclaimed dividend from the IEPF authority, you want to ensure that you are giving them the right documentation. This means you are to select the IEPF-5 form (also known as IEPF form-5), fill it up, and attach documentation that proves who you are and if you are the rightful owner of the HCL Technologies.

What document do you need to serve this purpose? Well, start with your personal details, bank details, proof of identity (PAN, Aadhar, etc.). You should then get your share ownership details, i.e,. The certificates and other paperwork are to be attached to the form for submission.

Step 3: File Your Claim Online (Form IEPF-5) 

On the website of IEPF, you are going to locate the form known as IEPF-5. Please note that this is the only form you’ll need to submit if you want to get back your unclaimed dividend from the IEPF authority.

This very form collects all your shareholder or investor documents and reaches the higher authorities. Therefore, the investor or shareholder needs to be quite careful in filling up the form using only the correct details. When that’s done, the shareholder or investor should also double-check the paperwork attached to the IEPF-form 5 to avoid cancellations or rejections, which are painful in the way of unclaimed share recovery.

Step 4: Physical Submission to the Company’s Nodal Officer 

All the details of your personal information, your identity, your shareholder details, as well as additional information such as change of ownership, will of the shareholder when it’s a matter of inheritance, or the dealth certificate of the shareholder for share transfer to the legal heir or the person stated in the will, are all required to be submitted as hard copies to the concerned authority.

This is a rule you have to abide by to let the company (HCL Technologies) and the MCA authority to let them verify that it’s the real shareholder or the investor trying to claim the shares. As mentioned earlier, you must ensure there is no such mismatch in the investor or shareholder documents between the soft copy (sent with the IEPF-5 form) and the hard copies you are to submit.

Step 5: Company and IEPF Authority Verification

Your work with the claiming process is done. Now, both the company (HCL Technologies) and the IEPF authority will check your details and verify them accordingly.

Step 6: Receiving Your Recovered Dividends or Shares

When you are done with all these processes, it is time for you to wait and find out how your shares are transferred into the demat account. In this phase, though, there might be problems or issues like mismatches or inappropriate information in the verification part.  It may slow down the overall process.

Essential Tips for a Smooth Unclaimed Investment Recovery IEPF Process

If you find any hiccups, talk to an investment recovery consultancy agency to sort out these problems and help you get your unclaimed dividends back.

Of course, that’s an option when you don’t or cannot understand the issue or interpret the problem yourself. Sometimes, these legal matters might seem a little too stressful, and it is normal for shareholders or investors to make mistakes. To avoid them, though, you can try out these measures, you shown below:

Avoiding Common Mistakes 

You don’t want to make mistakes in areas such as misspelling names or providing incorrect identity information, such as faulty PAN or Aadhar details, which can get you into trouble.

How to Speed Up Your Claim

You can speed up your claim by learning about the recovery of unclaimed dividends from IEPF in advance. Besides, talking to a professional consultancy agency can help you accelerate this process by providing accurate, relevant details and getting in touch with the right authority.

Special Considerations for Legal Heirs and Joint Holders 

When you’re claiming your shares from HCL Technologies and the process might get extended to getting those shares transferred to legal heirs or joint account holders, you want to conduct a few extra steps and arrange more paperwork. Do your homework on them before you set to work on this.

Preventing Future Unclaimed Dividends 

You don’t want the dividends or shares you own and interact with to go unclaimed in the future.

Otherwise, you will have to undergo all these steps again. To ensure this situation does not occur in the future, you can follow these steps:

• The best practice investors can do is to keep the contact details and bank information updated with the share certificates at all times
• It’s always important to dematerialise your shares and create a demat account without losing time.
• Set reminders for dividend payouts to ensure you’re interacting with your shares and keeping your ownership active. If you cannot set these reminders manually, choose automated solutions. They are widely available and are quite affordable these days.

How Infiny Solutions Can Help 

We at Infiny Solutions can help you with unclaimed HCL Technologies dividend recovery from IEPF quickly.

Our team is an expert and experienced team of consultants who can help you with techniques and strategies to navigate the complex legal barriers and verification rounds to ensure you get back your HCL Technologies shares as soon as possible.

By aiding numerous shareholders and investors in the country, we have gained insight into our experience in dealing with dividend restoration.

If you want to learn more about how you can claim your unclaimed dividend from IEPF, then feel free to visit our website and discover how we guarantee the restoration of your shares.