Transfer of equity shares to the Investor Education and Protection Fund
In terms of Section 124 of the Companies Act, 2013, read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, shares of the Company in respect of which dividend entitlements have remained unclaimed or unpaid for seven consecutive years or more, are required to be transferred by the Company to the Investor Education and Protection Fund (IEPF) of the Government of India.
(i) Details of Equity Shares transferred to the IEPF
The shares on which dividends were unclaimed for seven consecutive years were transferred to the demat account of the IEPF Authority. Accordingly, shares of IndianOil were transferred to the demat account of IEPF as per details given below