annual-report-FY2020

MAHINDRA & MAHINDRA LIMITED 7 Please note that the Company is not obligated to apply the beneficial DTAA rates at the time of tax deduction/withholding on dividend amounts. Application of beneficial DTAA rate shall depend upon the completeness and satisfactory review by the Company, of the documents submitted by the Non-Resident shareholder. Members may submit the aforementioned documents at https://ris.kfintech.com/form15/ on or before Friday, 17 th July, 2020 in order to enable the Company to determine and deduct appropriate tax. No communication on the tax determination / deduction shall be entertained post Friday, 17 th July, 2020. It may be further noted that in case the tax on said dividend is deducted at a higher rate in absence of receipt of the aforementioned details / documents from the Shareholders, there would still be an option available with the Shareholders to file the return of income and claim an appropriate refund, if eligible. The Company shall arrange to email the soft copy of TDS certificate to the Shareholders at the registered email ID in due course, post payment of the said Dividend. An email communication informing the Shareholders regarding this change in the Income-tax Act, 1961 as well as the relevant procedure to be adopted by them to avail the applicable tax rate is being sent by the Company at the registered email IDs of the Shareholders. 14. IEPF: Under the Act, dividends that are unclaimed/ unpaid for a period of seven years are required to be transferred to the Investor Education and Protection Fund (“IEPF“) administered by the Central Government. An amount of Rs. 2,28,78,013 being unclaimed/unpaid dividend of the Company for the financial year ended 31 st March, 2012 was transferred in September, 2019 & March, 2020 (reversal of unencashed demand drafts) to IEPF. In addition, an amount of Rs. 4,738 being unclaimed/unpaid dividend upon reversal of unencashed demand drafts of the Company for the financial year ended 31 st March, 2011 was also transferred in March, 2020 to IEPF. The Company paid to IEPF on 8 th August, 2019, an amount of Rs. 1,92,18,262 towards dividend for the financial year ended 31 st March, 2019 on such Shares which were transferred to IEPF. Members who have not encashed the dividend warrants/demand drafts so far in respect of the unclaimed and unpaid dividends declared by the Company for the Financial Year 2012-13 and thereafter, are requested to make their claim to KFintech well in advance of the last dates for claiming such unclaimed and unpaid dividends as specified hereunder: Financial Year ended Date of declaration of dividend Last date for claiming unpaid/ unclaimed dividend 31 st March, 2013 13 th August, 2013 11 th September, 2020 31 st March, 2014 8 th August, 2014 7 th September, 2021 31 st March, 2015 7 th August, 2015 8 th September, 2022 31 st March, 2016 10 th August, 2016 8 th September, 2023 31 st March, 2017 4 th August, 2017 2 nd September, 2024 31 st March, 2018 7 th August, 2018 5 th September, 2025 31 st March, 2019 7 th August, 2019 5 th September, 2026 Pursuant to the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”), the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company as on 31 st March, 2019 on the website of the Company at https://www.mahindra.com and also on the website of the MCA at http://www.iepf.gov.in/. Members are requested to note that, pursuant to the provisions of section 124 of the Act read with IEPF Rules, all shares on which dividend has not been paid or claimed for seven consecutive years or more shall be transferred to IEPF Authority as notified by the MCA. In accordance with the aforesaid IEPF Rules, the Company has sent individual communication to all Members whose shares are due for transfer to the IEPF Authority and whose email IDs are available, informing them to claim their unclaimed/unpaid dividend before due date to avoid such transfer of shares to IEPF Authority and has also published notice in this regards in Newspapers. Members whose unclaimed dividends/shares are/will be transferred to the IEPF Authority can claim the same by making an online application to the IEPF Authority in web Form No. IEPF-5 by following the refund procedure as detailed on the website of IEPF Authority http://www.iepf.gov.in/IEPF/refund.html. 15. NOMINATION: Members can avail of the facility of nomination in respect of shares held by them in physical form pursuant to the provisions of section 72 of the Act. Members desiring to avail of this facility may send their nomination in the prescribed Form No. SH-13 duly filled in to KFin at the above mentioned address. Members holding shares in electronic form may contact their respective Depository Participants for availing this facility. 16. ELECTRONIC CREDIT OF DIVIDEND: SEBI has made it mandatory for all companies to use the bank account details furnished by the Depositories and the bank account details maintained by the Registrar and Transfer Agents for payment of dividend to Members electronically. The Company has extended