The Karnataka Bank Limited has issued a notice to its shareholders regarding the transfer of unclaimed dividends and corresponding shares to the Investor Education and Protection Fund (IEPF). This action is mandated by the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, read with Section 124(6) of the Companies Act, 2013. Shareholders who have not claimed their dividends for seven consecutive years are being individually notified by the bank. Details of these shareholders and their shares liable for transfer to the IEPF have also been uploaded on the bank's website. Shareholders are urged to verify their unclaimed dividend details and claim any such amounts or shares before July 31, 2026. For shareholders holding shares in physical form, duplicate share certificates will be issued, which will then be converted to demat form and transferred to the IEPF. Consequently, their original share certificates will be automatically cancelled and become non-negotiable. The bank will proceed with the dematerialization and transfer of shares to the IEPF if no valid claim is received by the specified deadline. Shareholders wishing to claim their shares and dividends after the transfer can do so by submitting an application on the MCA portal using the IEPF-5 form. For further assistance regarding unclaimed dividends, shareholders can contact the bank's Registrar and Share Transfer Agent, Integrated Registry Management Services Private Limited.
