The SEBI has notified the SEBI (LODR) (Fifth Amendment) Regulations, 2021 wherein a new regulation 61A has been inserted which specifies the procedure for dealing with unclaimed non-convertible securities and benefits accrued thereon. Now listed entities shall not forfeit unclaimed interest/dividend/redemption amount. However, where the amount has not been claimed within 30 days from the due date, a listed entity shall within seven days transfer the amount to an escrow account.The SEBI has notified the SEBI (LODR) (Fifth Amendment) Regulations, 2021 wherein a new regulation 61A has been inserted which specifies the procedure for dealing with unclaimed non-convertible securities and benefits accrued thereon. Now listed entities shall not forfeit unclaimed interest/dividend/redemption amount. However, where the amount has not been claimed within 30 days from the due date, a listed entity shall within seven days transfer the amount to an escrow account.taxmann.com Latest Statutory HappeningsRead More
