Governance and Leadership Team Looking after Investor Relationship at Kotak Mahindra Bank

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Kotak Group
Dividend Payments & ECS
General

How did Kotak Mahindra Group come into existence?

The Kotak Mahindra Group was incorporated in 1985 as Kotak Capital Management Finance Limited. This company was promoted by Uday Kotak, Sidney A. A. Pinto and Kotak & Company. Industrialists Harish Mahindra and Anand Mahindra took a stake in 1986, and that is when the company's name was changed to Kotak Mahindra Finance Limited. In 2003, Kotak Mahindra Finance Ltd. was converted into a commercial bank- the first Indian company to do so.

What is Kotak Mahindra Group’s area of operations?

Kotak Mahindra Group is one of India's leading financial conglomerates, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to General and Life Insurance, to investment banking, the group caters to the financial needs of individuals and corporates.

How many subsidiaries does Kotak Mahindra Bank have?

Kotak Mahindra Bank has 19 subsidiaries. They are:-

Kotak Mahindra Prime Limited
Kotak Securities Limited
Kotak Mahindra Capital Company Limited
Kotak Mahindra Old Mutual Life Insurance Limited
Kotak Mahindra Investments Limited
Kotak Mahindra Asset Management Co. Limited
Kotak Mahindra Trustee Company Limited
Kotak Mahindra Pension Fund Limited
Kotak Mahindra (International) Limited
Kotak Mahindra (UK) Limited
Kotak Mahindra Inc.
Kotak Mahindra Asset Management (Singapore) Pte Limited
Kotak Mahindra Financial Services Limited
Kotak Investment Advisors Limited
Kotak Mahindra Trusteeship Services Limited
Kotak Infrastructure Debt Fund Limited
Kotak Mahindra General Insurance Company Limited
IVY Product Intermediaries Limited
BSS Microfinance Private Limited

I have not received my dividend. What action am I required to take?

You may send a mail to [email protected] or write to the Secretarial Department of the Bank furnishing the details/ particulars of the dividend not received. Please quote your folio number or DP ID and Client ID particulars. Post verification, if the dividend remains unpaid as per the records of the Bank, we will send a demand draft / pay order in lieu of the unpaid dividend.

What is the procedure involved in obtaining a duplicate dividend warrant?

During the validity of the original warrant no duplicate can be issued. Thus, if the validity period of the lost dividend warrant has not yet expired, you will have to wait till the expiry date. However, once the validity period has expired, if the dividend warrant is still shown as unpaid in our Bank Statement, a duplicate warrant shall be issued to you on receipt of application from you.

Can old dividends relating to past years that I have not received be claimed?

As per the present law, the Bank retains all unpaid/unclaimed dividends for the past seven years. If you have not received any of the past years dividends, you may send a mail to [email protected] or write to the Secretarial Department of the Bank with relevant particulars like folio number / DP ID Client ID, concerned dividend etc. and we shall arrange to pay the dividend if it remains unpaid as per our records.

What procedure should I follow in order to protect against fraudulent encashment?

If you hold shares in physical form, please submit your folio number, name, details of bank and account number to the R & T Agent i.e. KFin Technologies Limited or to the Secretarial Department of the Bank and we shall incorporate the same in all your future dividend warrants. In case you hold the shares in dematerialised form, these details will have to be provided to the Depository Participant with whom you have a demat account. Your Depository Participant in turn will pass on this information to the company. This procedure is in accordance with depository regulations. The dividend will be credited to the bank account which has been registered with the Depository Participant through National Automated Clearing House (NACH/NEFT/Direct Credit).

What is Electronic Clearing Service (ECS)?

Under this system, you can receive your dividend electronically by way of direct credit to your bank account. This avoids a lot of hassles like loss/fraudulent interception of dividend warrants during postal transit. This also expedites payment through credit to your account compared to dividend warrants in the physical form. We would strongly recommend that you opt for Electronic Clearing Service if you have not done so already.

How can I receive dividends electronically?

You are required to submit the ECS form duly completed along with a photocopy of a leaf of your cheque as advised in the Form and we shall take due note of the same in our records. All subsequent dividends will be paid to you through direct credit to your bank account.

What are the advantages of getting dividend electronically instead of a regular dividend warrant?

Advantages of getting dividend electronically::

Ensures receipt of your dividend amount in any designated bank account on the payment date, thus minimisingthe time lag
Ensures receipt of dividend even if the change in your address has notbeen notified
Minimises risk of misappropriation
Precludes the need for you to go to Bank to deposit the cheque in your account

Transfer to Investor Protection Fund

Pursuant to Section 124(5) of the Companies Act, 2013, dividends that are unclaimed for a period of seven years get transferred to the Investor Education and Protection Fund administered by the Central Government. The table given below gives the dates of dividend declaration since 2010-2011 and the corresponding dates when unclaimed dividends are due to be transferred to the Central Government in respect of Kotak Mahindra Bank Limited and the erstwhile ING Vysya Bank Limited.

Kotak Mahindra Bank Limited (KMBL)
Year	Dividend- Type	Date of Declaration	Due Date of Transfer
2010-11	Final	21 ^st July 2011	20 ^th August 2018
2011-12	Final	19 ^th July 2012	18 ^th August 2019
2012-13	Final	19 ^th July 2013	18 ^th August 2020
2013-14	Final	16 ^th July 2014	14 ^th August 2021
2014-15	Final	29 ^th June 2015	28 ^th July 2022
2015-16	Final	22 ^nd July 2016	21 ^st August 2023
2016-17	Final	20 ^th July 2017	19 ^th August 2024

Erstwhile ING Vysya Bank Limited (eIVBL)
Year	Dividend- Type	Date of Declaration	Due Date of Transfer
2010-11	Final	7 ^th September 2011	18 ^th October 2018
2011-12	Final	29 ^th June 2012	5 ^th August 2019
2012-13	Final	25 ^th June 2013	31 ^st July 2020
2013-14	Final	24 ^th June 2014	30 ^th July 2021

Details of unpaid / unclaimed dividend warrants of KMBL and eIVBL for the years 2009-10 to 2015-16 as per the MCA Notification G.S.R. 352(E) dated 10th May, 2012.

Unpaid Dividend - 2009-10	Click Here
Unpaid Dividend - 2010-11	Click Here
Unpaid Dividend - 2011-12	Click Here
Unpaid Dividend - 2012-13	Click Here
Unpaid Dividend - 2013-14	Click Here
Unpaid Dividend - 2014-15	Click Here
Unpaid Dividend - 2015-16	Click Here

Transfer of Equity Shares of the Bank to Investor Education and Protection Fund (IEPF) Suspense Account.
MCA has notified the applicability of Section 124(6) with effect from 7th September 2016, which provides that all shares in respect of which dividend has not been paid or claimed for seven consecutive years or more, shall be transferred by the Company in the name of IEPF. The Bank will initiate necessary action for transfer of shares (whether held in physical or demat form) to IEPF Suspense Account on or after 31st October 2017 or such other date as may be notified by MCA in this regard.

Details of shares due for transfer to IEPF Suspense account

Click Here | Click Here

Frequently Asked Questions (FAQs)

How did Kotak Mahindra Group come into existence?

What is Kotak Mahindra Group’s area of operations?

How many subsidiaries does Kotak Mahindra Bank have?

I have not received my dividend. What action am I required to take?

What is the procedure involved in obtaining a duplicate dividend warrant?

Can old dividends relating to past years that I have not received be claimed?

What procedure should I follow in order to protect against fraudulent encashment?

What is Electronic Clearing Service (ECS)?

How can I receive dividends electronically?

What are the advantages of getting dividend electronically instead of a regular dividend warrant?

Transfer to Investor Protection Fund

When does Kotak Mahindra Group’s financial year end?

What is the credit rating of the company?

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