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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.
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.
Dematerialisation means the conversion of a physical share certificate to electronic form representing the same number of shares held.
Prior to the dematerialisation era, shares were held in physical form by shareholders. They were sold physically and were sent to the companies for transfer which was then manually done on the reverse of the physical share certificate.
With the evolution of information technology, voluminous and cumbersome paper work involved in the scrip based system has been eliminated through dematerialisation of shares and automation of the process of transactions.
It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transfers are processed electronically without involving any share certificate or transfer deed after the share certificates have been converted from physical to electronic form.
Dematerialisation attempts to avoid the time consuming and complex process of getting shares transferred in the name of buyers and also aims to shirk inherent problems of bad deliveries, duplication frauds, delay in processing/ fraudulent interception in postal transit etc.
Dematerialisation of shares is optional and an investor can still hold shares in the physical form. However, he/ she has to dematerialise the shares if he/ she wishes to sell the same through the Stock Exchanges. Similarly, if an investor purchases shares, he/ she will get delivery of the shares in dematerialised form.
The Depositories Act, 1996 has been enacted to regulate matters related and incidental to the operation of Depositories and dematerialisation operations. In India, there are two Depositories in operation:
The operations in the Depository System involve the participation of a Depository, Depository Participants, Company/Registrars and Investors. The company is also called the Issuer.
The securities of investors are held in electronic form in a Depository (NSDL and CDSL) through Depository participants.
A Depository Participant is the agent of the Depository and is the medium through which shares are held in electronic form. They are also the representatives of the investor, providing the link between the investor and the company through the Depository.
The transfer of securities occurs without the actual physical handling of securities. The Depository is accountable for the safe keeping of securities. The company signs an Agreement with NSDL/CDSL (the depositories) and installs the necessary hardware/software for operations.
The process flow is enumerated below:-
The DP will then hold the shares in the dematerialised form on behalf of the investor and the investor will become the beneficial owner of these dematerialised shares.
Dematerialization is not compulsory.
According to the Depositories Act, 1996, an investor has the option to hold shares either in physical or in dematerialised form.
If the shares are held in the electronic form, the shares can be converted to physical form by Rematerialisation Request Form (RRF) through your DP. Upon receiving such a request from your DP, the company will issue share certificates for the rematerialised shares.
The charges for dematerialising have to be borne by the shareholder. The charges differ from one DP to another.
Shares should be registered in your favour before they can be dematerialised. For this purpose you need to lodge the share certificates and a duly executed transfer deed with the company. Once the share transfer is processed, we will send an option letter for dematerialising your shares. You can then give us your Dematerialisation Account No. with the Dematerialisation Request form for the dematerialising process through your DP and the shares will be directly credited to your Dematerialised Account.
You may write to Ms Bina Chandarana(email@example.com), Company Secretary and Senior Executive Vice President furnishing the details/ particulars of the dividend not received quoting your folio number or client ID particulars. We will check our records and issue a duplicate dividend warrant if the dividend remains unpaid as per the records of the company.
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.
As per the present law, the company retains all unpaid/ unclaimed dividends for the past seven years. If you have not received any of the past years dividends, you may write to Ms Bina Chandarana, Company Secretary and Senior Executive Vice President with relevant particulars like folio number, concerned dividend etc. and we shall arrange to pay the dividend if it remains unpaid as per our records.
If you hold shares in the physical form, please submit your folio number, name, details of bank and account number to Ms Bina Chandarana, Company Secretary & Senior Vice President and we shall incorporate the same in all your future dividend warrants. However, if you hold the shares in dematerialised form, these details will have to be provided to the Depository Participant with whom you have a dematerialisation account. Your Depository Participant in turn will pass on this information to the company. This procedure is in accordance with depository regulations.
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.
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.
Advantages of getting dividend electronically::
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.
|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|
|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.
|Details of shares due for transfer to IEPF Suspense account||Click Here | Click Here|
Kotak Mahindra Group's financial year ends on March 31.