MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 226 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 2015-16 10th August, 2016 3,05,73,732.00 28th September, 2023 2022-23* 4th August, 2023 3,49,43,219.75 7th August, 2023 * Dividend on shares which are transferred to IEPF. 25. Shares transferred/ credited to IEPF During the year 2023-24, the Company transferred 2,47,443 Ordinary (Equity) Shares to IEPF Authority corresponding to unclaimed dividend for the year 2015-16. The IEPF Authority holds 27,85,994 Ordinary (Equity) Shares in the Company as on 31st March, 2024. 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 26th December, 2017 11,00,234 Total number of shares held by IEPF as on 31st March, 2018 22,00,468 Transferred to IEPF during the year 2018-19 61,352 Total number of shares held by IEPF as on 31st March, 2019 22,61,820 Transferred to IEPF during the year 2019-20 62,079 Released from IEPF during the year 2019-20 31,012 Total number of shares held by IEPF as on 31st March, 2020 22,92,887 Transferred to IEPF on 8th April, 2020 30 Total number of shares held by IEPF as on 8th April, 2020 22,92,917 Transferred to IEPF during the year 2020-21 60,436 Released from IEPF during the year 2020-21 13,412 Total number of shares held by IEPF as on 31st March, 2021 23,39,941 Transferred to IEPF during the year 2021-22 1,20,649 Released from IEPF during the year 2021-22 2,724 Total number of shares held by IEPF as on 31st March, 2022 24,57,866 Transferred to IEPF during the year 2022-23 1,17,855 Released from IEPF during the year 2022-23 7,738 Total number of shares held by IEPF as on 31st March, 2023 25,67,983 Transferred to IEPF during the year 2023-24 2,47,443 Released from IEPF during the year 2023-24 29,432 Total number of shares held by IEPF as on 31st March, 2024 27,85,994
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