MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

185 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 21. Disclosures with respect to Demat Suspense Account/Unclaimed Suspense Account: In terms of Regulation 39 of the Listing Regulations, the Company reports the following details in respect of equity shares lying in the suspense account: Particulars Number of Shareholders Number of Equity Shares Aggregate Number of Shareholders and the outstanding shares in the Suspense Account lying as on 1 st April, 2022 2,457 5,59,986 Less: Number of Shareholders whose shares were transferred from suspense account during the year 33 27,276 Aggregate number of Shareholders and the outstanding shares in the suspense account lying as on 31 st March, 2023 2,424 5,32,710 The voting rights on the shares in the suspense account shall remain frozen till the rightful owners claim the shares. 22. Management Discussion and Analysis Report Management Discussion and Analysis Report forms part of this Annual Report. 23. Details of non-compliance, etc. Your Company has complied with all the requirements of regulatory authorities. During the last three years, there were no instances of non-compliance by the Company and no penalty or strictures were imposed on the Company by the Stock Exchanges or SEBI or any statutory authority, on any matter related to the capital markets. The Company has also complied with the requirements of Corporate Governance Report of Paras (2) to (10) mentioned in Part ‘C’ of Schedule V of the Listing Regulations and disclosed necessary information as specified in Regulation 17 to 27 and Regulation 46(2) (b) to (i) and (t) of the Listing Regulations in the respective places in this Report. 24. Unclaimed Dividend and shares transferred to Investor Education and Protection Fund (“IEPF”) In accordance with the provisions of sections 124 and 125 of the Act and Investor Education and Protection Fund (Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”), dividends which remain unpaid or unclaimed for a period of seven years from the date of transfer to the Unpaid Dividend Account shall be transferred by the Company to the Investor Education and Protection Fund (“IEPF”). The IEPF Rules mandate companies to transfer all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more in the name of IEPF. The Members whose dividend/ shares are transferred to the IEPF Authority can claim their shares/dividend from the IEPF Authority following the procedure prescribed in the IEPF Rules. In accordance with the said IEPF Rules and its amendments, the Company had sent notices to all the Shareholders whose shares were due for transfer to the IEPF Authority and simultaneously published newspaper advertisement. The details of Dividend remitted to IEPF during the year: Financial Year Dividend declared on Amount transferred to IEPF (in Rs.) Date of transfer to IEPF 2014-15 7 th August, 2015 2,20,46,088.00 26 th September, 2022 2021-22* 5 th August, 2022 2,41,16,981.20 8 th August, 2022 * Dividend on shares which are transferred to IEPF. 25. Shares transferred/ credited to IEPF During the year 2022-23, the Company transferred 1,17,855 Ordinary (Equity) Shares to IEPF Authority corresponding to unclaimed dividend for the year 2014- 15. The IEPF Authority holds 25,67,983 Ordinary (Equity) Shares in the Company as on 31 st March, 2023. Pursuant to IEPF Rules, given below are the details of Ordinary (Equity) Shares transferred to and released from IEPF Authority: Particulars Number of shares transferred to / released from IEPF Transferred to IEPF during the year 2017-18 11,00,234 Bonus shares credited to IEPF on 26-12-2017 11,00,234 Total number of shares held by IEPF as on 31 st March, 2018 22,00,468 Transferred to IEPF during the year 2018-19 61,352 Total number of shares held by IEPF as on 31 st March, 2019 22,61,820