HPL Electric & Power Limited Warns Shareholders Over Unclaimed Dividends for FY 2018-19; Sets October 15 Deadline

HPL Electric & Power Limited Warns Shareholders Over Unclaimed Dividends for FY 2018-19; Sets October 15 Deadline​

HPL Electric & Power Limited has issued a reminder to shareholders regarding unclaimed dividends pertaining to the financial year 2018-19, cautioning them that failure to claim these amounts or transfer their shares could result in automatic transfer to the Investor Education and Protection Fund (IEPF).

The company notified shareholders about the dividend warrant issued for FY 2018-19, stating that records indicate the dividend remains unclaimed by some shareholders. The reminder highlights the process governed by the Companies Act, 2013, and related IEPF Rules, which stipulate that funds remaining unpaid or unclaimed for seven years must be transferred to the central government's established IEPF account.

The corporation stated that all shares on which a dividend has not been paid or claimed for seven consecutive years will also be transferred to the IEPF Account in the company's name, and subsequent corporate benefits accrued on those shares will be credited to the IEPF Authority.

According to HPL Electric & Power Limited, shareholders have until October 15, 2026, to claim their unpaid or unclaimed dividends. After this deadline, the unclaimed amounts and corresponding shares are liable to be transferred to the IEPF without further notice.

The company provided a structure for tracking these outstanding payments across recent years:

| Dividend Year | Warrant No | Net Amount (Rs.) | Date of Payment |
| :--- | :--- | :--- | :--- |

Shareholders were instructed to immediately claim their unpaid or unclaimed dividends by submitting an application along with requisite documents, preventing the transfer of their holdings and dividends to IEPF. The submission must be made to KFin Technologies Limited, the Registrar and Share Transfer Agent (RTA), on or before October 15, 2026.

The company provided specific instructions based on whether shareholders hold shares in electronic form or physical form. Shareholders holding in electronic format were directed to provide a self-attested copy of the client master list, including details such as name, address, demat account, and bank account details. Those with physical share holdings were requested to submit the Investor Service Request Form ISR 1, along with supporting documents, including an original cancelled cheque.

In case dividends are not claimed by the deadline, HPL Electric & Power Limited will be compelled to transfer the unclaimed dividend amount for FY 2018-19 and the associated shares to the IEPF. The company added that both the unpaid amounts and corresponding shares, along with any accrued benefits, can subsequently be claimed from the IEPF Authority via Form IEPF-5.

HPL Stock Price Movement​

Shares of HPL Electric & Power Limited slipped today by 0.53%, settling at ₹358.95 in post-market trading. The stock traded within a range that saw a low of ₹358.00 and a high of ₹368.85, with 136,774 shares recorded in trade.