| 2. INVESTOR SERVICE AND GRIEVANCE HANDLING MECHANISM |
All Share related transactions viz. transfer, transmission, transposition, nomination, dividend, change of name/address/signature, registration of mandate/Power of Attorney, replacement/split/consolidation of share certificates / demat / remat of shares, issue of duplicate share certificates etc. are being handled by the Registrar & Share Transfer Agents which discharges its functions effectively, efficiently and expeditiously.
Investors are requested to correspond directly with CB Management Services (P) Ltd on all share related matters at P – 22, Bondel Road, Kolkata – 700 019 and for any other query to the Company Secretary & Compliance Officer at the Registered Office of the Company at 113, Park Street, N-Block, 2nd Floor, Kolkata-700016 and for prompt response, shareholders/investors may send such correspondence which do not require signature verification for processing, through e-mail on secretary@centuryextrusions.com .
The Board of Directors of the Company has constituted a Shareholders’/Investors Grievance Committee comprising of 5 directors which interalia approves issue of duplicate certificates and oversees and reviews all matters connected with securities transfers and other processes. The Committee also reviews redressal of shareholders’ complaints related to transfer of shares, non-receipt of Balance Sheet, non-receipt of dividend etc. The Committee overseas performance of the R & T A and recommends measures for overall improvement in the quality of investor services. A summary of investor related transactions and details is also considered by the Board of Directors of the company.
 |
Transfer/ Transmission/ Transposition/ Duplicate Certificates |
| |
Transferee(s) need to send share certificates along with share transfer deed in the prescribed form 7B, duly filled in, executed and affixed with share transfer stamps, to the Company’s R & TA. It takes about 15-20 days for the Company’s RTA to process the transfer. The Govt. of India, Ministry of Finance, Department of Revenue has fixed the stamp duty on Transfer (whether with or without consideration) of shares at the rate of twenty five (25 ) paisa for every Rs.1000 or part thereof of the market value of shares on the date of execution of the transfer deed. The transfer deed is valid for a period of one year from the date of presentation or till the book closure date, whichever is later. In case the transfer deed has expired the holder may approach the Registrar of Companies to get the same revalidated. In case of dematerialized shares, the shares are credited to the Purchaser’s account by the respective Depository Participant under the directions of the concerned depository. Presently transfer of the dematerialized shares does not attract stamp duty. |
| |
In case the transfer form is returned with objections |
| |
The Transferee needs to immediately proceed to get the errors /discrepancies corrected. The Transferee needs to contact the transferor either directly or through his broker for rectification or replacement with good securities. After rectification or replacement of the securities the same can be resubmitted for effecting transfer. |
| |
The shares can be transferred to a minor, Hindu Undivided Family, Firm, Trust |
| |
In case of a minor the transfer deed is required to be signed by the natural guardian on behalf of the minor. In case of Hindu Undivided Family the shares can be transferred in the name of the Karta of HUF, in the case of a Firm shares can be transferred to a partner of the firm and in the case of a Trust shares can be transferred to a Trustee of the Trust. |
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In the case of transfer of shares by Non-Residents |
| |
In addition to the normal procedure for transfer of shares, prior approval of Reserve Bank of India (RBI) is required to be obtained by the Non-Resident Investors. |
|
Conversion of single holdings into joint holdings |
| |
and vice-versa or transfer within the family members leads to a change in the pattern of ownership and therefore procedure for normal transfer as mentioned above needs to be followed. |
|
Registration of Shares received by way of Gift |
| |
The procedure for registration of shares gifted (held in physical form) is same as the procedure for normal transfer. The stamp duty payable for registration of gifted shares would be @ 25 paise for every Rs.1000 or part thereof, of the face value or the market value of the shares prevailing as on the date of the document, if any, conveying the gift or the date of the execution of the transfer deed, whichever is higher. The procedure for registration of shares gifted (held in demat form) is the same as the procedure for transfer of shares in demat form in off market mode. |
Procedure for getting shares in the name of surviving shareholder
The surviving shareholder(s) will have to submit a request letter supported by an attested copy of the death certificate of the deceased shareholder and accompanied by relevant share certificate(s). The Company’s R &TA on receipt of the said documents and after due scrutiny, will delete the name of the deceased shareholder from its records and return the share certificate(s) to the surviving shareholder(s) with necessary endorsements.
If shareholder holds shares in his sole name dies without leaving a will
The legal heir(s) should obtain a Succession Certificate or Letter of Administration with respect to the shares and send a true copy of the same, duly attested, along with a request letter, transmission form, and the share certificate(s) in original, to the Company’s R & TA for transmission of the shares in his/their name(s).
If Deceased Shareholder who held shares in his single name had left a Will.
The legal heir(s) will have to get the Will probated by the Court of competent jurisdiction and then send to the Company’s R & T A a copy of the probated copy of the Will, along with relevant details of the shares, the relevant share certificate(s) in original and transmission form for transmission of the shares in his/their name(s). |
Transposition refers to the change in the order of the names of the Registered Holders of shares in a Company. Share certificates along with a request letter duly signed by all Joint Holders may be sent to the Company’s R & T A for change in order of names. Transposition can be done only for the entire holdings under a folio and therefore requests for transposition of part holding cannot be accepted by the Company /R & T A. For shares held in demat form, investors are advised to approach their DP concerned for transposition of the shares of the Company. |
| PAN REQUIREMENT FOR TRANSMISSION OF SHARES IN PHYSICAL FORM |
| |
Vide SEBI Circular # MRD/DOP/Cir-05/2009 dtd. May 20, 2009, it shall be mandatory to furnish copy of PAN card to the Company/RTAs in the following cases: |
| 1 |
Deletion of name of the deceased shareholder(s), where the shares are held in the name of two or more shareholders |
| 2 |
Transmission of shares to the legal heir(s), where deceased shareholder was the sole holder of shares. |
| 3 |
Transposition of shares –when there is a change in the order of names in which physical shares are held jointly in the names of two or more shareholders |
| |
In case of mismatch in PAN card details as well as difference in maiden name and current name (in case of married woman) of the investors, the RTAs can collect the PAN card as submitted by the Transferee(s). However this would be subject to RTAs verifying the veracity of the claim of such transferee(s). |
| DUPLICATE ISSUE OF SHARES |
| |
In case of loss of share certificates by the registered shareholders |
| a |
Shareholders should immediately notify to the Company by way of a letter duly signed by the shareholder(s), the fact of loss/misplacement of share certificates(s) along with copy of FIR/ acknowledged police complaint bearing complete details of share certificate(s) lost/misplaced viz. share certificate numbers , distinctive nos., number of shares ,folio no(s),etc. |
| b |
On receipt of the above documents and upon verification of signature of the shareholders(s) on the intimation letter, the Company shall note ‘stop transfer’ remarks against the relevant share certificate(s). |
| c |
The Company shall inform to the shareholder(s) procedure to be followed for issue of duplicate share certificate(s) along with formats of affidavit, indemnity bond etc. to be executed by the shareholder(s) in the prescribed manner on non-judicial stamp paper of requisite value. |
| d |
On receipt of executed affidavit, indemnity bond and other documents/papers and after publication of public notice in newspapers, the Company shall issue duplicate share certificates, in case the Company does not receive any objection for the same. |
| e |
In case of loss of share certificates by the unregistered holder of shares, in addition to the above following documents are required to be furnished to the Company :
(I) No objection letter from the registered shareholder(s) for issue of duplicate share certificates and subsequent transfer
(II) Proof of purchase of shares by the applicant
(III) Such other documents/information as may be considered |
| f |
If a shareholder finds the original share certificate after receipt of duplicate share certificates he is requested to surrender the original share certificates, after cancellation, to the company’s R & T A immediately, if the duplicate share certificates have been issued to him /her. |
Shareholders may write to the Company’s R & T A enclosing the relevant share certificates for splitting into smaller lots. The share certificates after splitting will be sent by the Company’s R &T A to the shareholders at their registered address.
| CONSOLIDATION INTO SINGLE CERTIFICATE |
Consolidation of share certificates helps in saving costs in the event of dematerializing shares and also provides convenience in holding the shares physically. Shareholders holding shares in various denominations under the same folio should send all the certificates to CB Management for consolidation of all the shares into a single certificate.
If the shares are not under the same folio but have the same order of names, the shareholder should write to CB Management for consolidation of the folios. This will help the investors to efficiently monitor the holding and receivable thereon.
| DEMATERIALISATION / REMATERIALISATION OF SHARES |
Dematerialization (Demat) is the process by which the securities held in physical form are cancelled and destroyed and the ownership thereof is entered into and retained in a fungible form on a depository by way of electronic balances.
The two depositories presently functioning are National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL).
| Steps involved in dematerialization of shares |
| 1. |
Shareholder fills out a Dematerialization Request Form (DRF) and surrenders the defaced share certificate(s) along with DRF to the DP. |
| 2. |
Shareholders should immediately notify to the Company by way of a letter duly signed by the shareholder(s), the fact of loss/misplacement of share certificates(s) along with copy of FIR/ acknowledged police complaint bearing complete details of share certificate(s) lost/misplaced viz. share certificate numbers , distinctive nos., number of shares ,folio no(s),etc. |
| 3. |
On receipt of the above documents and upon verification of signature of the shareholders(s) on the intimation letter, the Company shall note ‘stop transfer’ remarks against the relevant share certificate(s). |
| 4. |
The Company shall inform to the shareholder(s) procedure to be followed for issue of duplicate share certificate(s) along with formats of affidavit, indemnity bond etc. to be executed by the shareholder(s) in the prescribed manner on non-judicial stamp paper of requisite value. |
| 5. |
On receipt of executed affidavit, indemnity bond and other documents/papers and after publication of public notice in newspapers, the Company shall issue duplicate share certificates, in case the Company does not receive any objection for the same. |
| 6. |
In case of loss of share certificates by the unregistered holder of shares, in addition to the above following documents are required to be furnished to the Company :
(I) No objection letter from the registered shareholder(s) for issue of duplicate share certificates and subsequent transfer
(II) Proof of purchase of shares by the applicant
(III) Such other documents/information as may be considered |
| 7. |
If a shareholder finds the original share certificate after receipt of duplicate share certificates he is requested to surrender the original share certificates, after cancellation, to the company’s R & T A immediately, if the duplicate share certificates have been issued to him /her. |
| |
At present, no stamp duty has to be paid. |
| 1. |
Elimination of Bad deliveries |
| 2. |
Elimination of all risks associated with physical certificates |
| 3. |
No stamp duty on transfers |
| 4. |
Immediate transfer/trading of securities |
| 5. |
Faster settlement cycle |
| 6. |
Faster disbursement of non-cash corporate benefits like rights, bonus etc. |
| 7. |
SMS alert facility |
| 8. |
Lower brokerage is charged by many brokers for trading in dematerialized securities |
| 9. |
Ease relating to change of address of investor |
| 10. |
Elimination pf problems related to transmission of demat shares |
| 11. |
Ease in portfolio monitoring |
Dividend on Dematerialised shares
Dividend of shareholders holding shares in dematerialised form will be credited through ECS/ electronically to the bank accounts as opted by them while opening the Beneficiary Accounts with the DP. In other cases, dividend warrants will be dispatched to them with the bank account details, as furnished by the Depositories printed thereon.
Pledge of Dematerialised Shares
Dematerialised shares can be pledged for the purpose of availing of any funding /loan arrangements with the Bank.
Rematerialization of shares
The process through which shares held in demat form are converted into physical form by issuance of share certificates.
Process
| 1. |
Shareholders should submit duly filled in Rematerialization Request Form (RRF) to the concerned DP. |
| 2. |
DP intimates the relevant Depository of the request through the System |
| 3. |
DP intimates the relevant Depository of the request through the System |
| 4. |
Depository confirms rematerialisation request to the Company’s R & T A |
| 5. |
The Company’s R & T A updates accounts and prints certificates and informs the Depository. |
| 6. |
Depository updates the Beneficiary Account of the shareholder by deleting the shares so rematerialized |
| 7. |
Share certificate is then despatched to the shareholder |
NOMINATIION FACILITY
Section 109 A of the Companies Act, 1956 provides the facility of nomination to shareholders. This facility is mainly useful for individuals holding shares in solo name. In the case of joint holdings of shares by individuals, nomination will be effective only in the event of the death of all joint holders. Investors who are holding shares in single name are advised to avail of the nomination facility by submitting the prescribed Form 2B to the Company’s R & TA.
There can be only one nomination for one folio. It is possible to revoke / vary a nomination once made. If nomination is made by joint holders and one of the joint holder dies, the remaining joint holder(s) can make a fresh nomination by revoking the existing nomination.
A Non-Resident Indian (NRI) can nominate. But a power of attorney holder cannot nominate on behalf of an NRI.A Non-Resident Holder (NRI) can be a nominee on repatriable or non-repatriable basis subject to Reserve Bank of India’s permission as applicable.
WHO WILL BE NOMINEES
Individual Shareholders holding the shares in single name or joint names can appoint a nominee. In case of joint holding, joint holders together have to appoint the Nominee. While an individual can be appointed as a Nominee, a Trust, Society, Body corporate, partnership Firm, Karta of HUF or power of Attorney Holder will not be nominee(s). Minors can however be appointed as nominees.
RIGHTS OF A NOMINEE
The nominee is entitled to all the rights of the deceased shareholder to the exclusion of all other persons. In the event of death of the shareholder, all the rights of the shareholder shall vest in the nominee. In case of joint holding, all the rights shall vest in the nominee only in the event of death of all the joint holders. The nominee is required to apply to the Company by reporting death of the nominator along with attested copy of the death certificate.
The nominee has an option to decide to register himself as a shareholder or he/she could send an application to have the shares transferred to any other person to whom the nominator could have otherwise transferred the shares. If the nominee opts to transfer the shares to a third party, he/she should submit to the Company’s R & T A , the transfer deeds duly stamped and executed along with relevant share certificates and other documentary proof(s).
If the shares are held in dematerialized form, nomination has to be registered with the concerned DP directly, as per the format prescribed by the DP.
| 1. |
Shareholders are required to inform the Company in writing of any change in their address, quoting their folio number for shares in physical form. |
| 2. |
Change of address is effected only when the signature of the first registered holder on the request letter matches with the specimen signature recorded with the Company. |
| 3. |
Change of address for shares held in demat form should be notified only to the concerned DP. |
| 4. |
Requests for Change of Address should be accompanied by any Address Proof like Electricity Bill, Telephone Bill, Bank Statement, Driving Licence, Voter ID Card etc. |
| There can be only one Registered Address for one folio. |
| CHANGE IN NAME AND STATUS |
| 1. |
All requests for change of name should be accompanied with a copy of the notification in the Official Gazette or a newspaper. |
| 2. |
Request for change of name consequent upon marriage /divorce should be accompanied with marriage certificate/divorce decree. |
| 3. |
For effecting change of status from minor to major, please send proof of age (such as attested copy of Birth Certificate or School Leaving Certificate). |
| 4. |
In the case of Limited Companies, a certified copy of the certificate of incorporation consequent to change of name issued by the Registrar of Companies should be submitted along with Memorandum & Articles of Association. |
| 5 |
The new specimen signature duly attested by holder’s bank should be lodged with the R & T A to take on record the new signature. |
| 6. |
If shares are held in demat form, please inform your DP regarding the change in name and status. |
PAYMENT OF DIVIDEND
The Dividend is paid under two modes viz.:
a) Electronic Clearing Service (ECS) b) Payment by mailing dividend warrants
Reserve Bank of India’s ECS facility provides investors an option to receive dividend directly in their Bank Accounts rather than receiving the same through post. Under this option, the investor’s bank account is directly credited and an advice thereof is issued by the Company after the transaction is effected. The concerned Bank Branch credits Investor’s account and indicates the credit entry as ECS in his/her passbook /statement of account.
Major Benefits through ECS payment
Some of the major benefits are:
a) Shareholder need not make frequent visits to his bank for depositing the physical paper instruments
b) Prompt credit to the bank account of the investor through electronic clearing
c) Fraudulent encashment of warrants is avoided.
d) Exposure to delays /loss in postal service avoided
e) As there can be no loss in transit of warrants, issue of duplicate warrants is avoided.
How to avail of ECS facility
Investors holding shares in physical form may send their ECS Manadate Form, duly filled in to the Company’s R & T A. The form may be downloaded from the Company’s website www.centuryextrusions.com under the section Financials.
However ifs shares are held in dematerialized form, ECS mandate has to be sent to the concerned Depository Participant (DP) directly, in the format prescribed by the DP.
Company cannot take on record the bank details in case of the dematerialized shares
As per the Depository Regulations, the Company is obliged to pay dividend on the dematerialized shares as per the Bank Account details furnished by the concerned depository. Therefore, investors are requested to keep their Bank particulars updated with the Depository Participants.
ECS Facility can be opted out by the Investors
Investors have the right to opt out from this mode of payment by giving an advance notice of four weeks, prior to payment of dividend, either to the Company’s R & T A or to the concerned DP, as the case may be.
Registering a request for obtaining payment through ECS for the shares held in dematerialized form.
The Investors should approach the DP and submit a request letter to the DP along with a copy of the cancelled cheque of the investor’s bank account. The DP in turn will record the 9 digit MICR number along with the account particulars of the Investor. This action would facilitate future payment of dividend etc. to be received in electronic mode.
In case of Non-Receipt of Dividend, Revalidation of Dividend Warrant
Shareholders may write to the company’s R & TA furnishing the particulars of the dividend not received , and quoting the folio number/ DPID and Client ID particulars (in case of dematerialized shares). The R & T A shall check the records and send the intimation to the Secretarial Department of the Company which shall then intimate the Banker to issue pay order/cheque if the dividend remains unpaid in the records of the Company after expiry of the validity period of the warrant which is normally three to six months from the date of its issue. If the validity period of the lost dividend warrant has not expired, shareholders will have to wait till the expiry date since pay order/cheque cannot be issued during validity of the original warrant On expiry of the validity period ,if the dividend warrant is still shown as unpaid in records of the Company , pay order/cheque will be issued. However, no such pay order or cheque shall be issued against those shares wherein a ‘stop transfer indicator’ has been instituted either by virtue of a complaint or by law, unless procedure for releasing the same has been completed.
No pay order/ cheques will be issued in respect of dividends which have remain unpaid/unclaimed for a period of seven years in the unpaid dividend account of the Company as they are required to be transferred to the Investor Education and Protection Fund (IEPF) constituted by the Central Government.
Procedure for Revalidation of Dividend Warrant
Shareholders who have not encashed their dividend warrants within the validity period may send their request for revalidation to the Company’s RT&A enclosing the said dividend warrants. The Company’s R& TA after due verification of the records, intimates the Company which then arranges for issue of a demand draft/pay order/ cheque with the help of the Bankers. This shall be valid for not more than three months.
Banks or any other person shall be authorized to receive dividends on behalf of the shareholders
Shareholders may write to the Company’s R & T A furnishing the name and address of the authorized person /bank along with folio number and current communication address. The Company’s R & T A will dispatch the respective shareholder’s dividend warrants to the concerned person/bank. This facility is applicable only for the shareholders holding shares in physical form.
Statutory Provisions governing Unclaimed Dividend
Any money transferred to Unpaid Dividend Account of the Company and which remains unpaid or unclaimed for a period of 7 years from the date it becomes due, shall be transferred to the Investor Education and Protection Fund (IEPF).Investors are requested to note that no claims shall lie against the Company or IEPF for any money transferred to IEPF in accordance with the provisions of section 205C.
In view of the Statutory Provisions as aforesaid the status of unclaimed and unpaid dividend of the Company is captured in chart below:
| Dividend for the Year |
Amount of Dividend
(Rs. In lacs) |
Amount of Unpaid Dividend as on 31.03.09.
(Rs. In lacs) |
% of Dividend Unpaid |
Due Date of Transfer to IEPF |
| 2007-08 |
47 |
1.35 |
2.87 |
08.08.2015 |
Shareholders whose dividend remains unpaid is requested to claim the same before it is transferred to IEPF.
| COMPANY’S RECOMMENDATION TO THE SHAREHOLDERS / INVESTORS |
| 1. |
Open Demat Account and Dematerialize your shares
Investors should convert their physical holdings of securities into demat holdings. Holding securities in demat form helps investors to get immediate transfer of securities. No stamp duty is payable on transfer of shares held in demat form and risks associated with physical certificates such as forged transfers, fake certificates and bad deliveries are avoided. |
| 2. |
Consolidate Multiple Folios
Investors should consolidate their shareholding held in multiple folios. This would facilitate one-stop tracking of all corporate benefits on the shares and would reduce time and efforts required to monitor multiple folios. |
| 3. |
Register ECS Mandate and furnish correct bank account particulars with Company/ Depository Participant
Investors should provide an ECS mandate to the Company in case of shares held in physical form and ensure that the correct and updated particulars of their bank account are available with the Depository Participant (DP) in case of shares held in demat form. This would facilitate in their receiving direct credits of dividends, refunds etc. from Companies and avoiding postal delays and loss in transit. |
| 4. |
Fill and Submit Nomination Form
Investors should register the nominations, in case of physical shares, with the Company and in case of dematerialized shares with their DP. Nomination would help successors to get the shares transmitted in their favour without any hassles. |
| 5. |
Keep holding details confidential
Folio number (Client ID and DP ID number in respect of dematerialized securities) should not be disclosed to unknown persons. Signed blank transfer deeds (delivery instruction slips in respect of dematerialized shares) should not be given to unknown persons.
|
| 6. |
Deal with Registered Intermediaries
Investors should transact through a registered intermediary who is subject to regulatory discipline of SEBI, as it will be responsible for its activities, and in case intermediary does not act professionally, investors can take up the matter with SEBI. |
| 7. |
Obtain documents relating to purchase and sale of securities
A valid contract not/ Confirmation Memo should be obtained from the broker /sub-broker within 24 hours of the execution of purchase or sale of securities and it should be ensured that the Contract Note/Confirmation Memo contains order number , trade number, trade time , quantity, price and brokerage.. In case the Investors have any doubt about the details contained in the contract note, they can avail the facility provided by BSE/NSE to verify the trades on BSE/NSE websites. It is recommended that this facility be availed in respect of a few trades on random basis , even if there is no doubt as to the authenticity of the trade /transaction. |
| 8. |
Monitor Holdings regularly
Demat account should not be kept dormant for long. Periodic statement of holdings should be obtained from the concerned DP and holdings verified. |
| 9. |
Register for SMS alert facility
Investors should register their mobile mumbers with DPs for SMS alert facility. National Securities Depository Limited and Central Depository Services (India) Limited proactively inform investors of transactions in the demat account by sending SMS. Investors will be informed about debits and credits to their demat account without having to call up their DPs and investors need not wait for receiving Transaction Statements from DPs to know about their debits or credits.
|
| 10. |
Immediate intimation
There are chances of fraudulent transfers in case of folios with no movement or where the shareholder has either expired or is not residing at the address registered with the Company.
Company/DP should be updated on any change of address or contact details. Similarly information of death of shareholders should also be communicated.
|
| 11. |
Mode of correspondence
Share certificates and high value dividend /interest warrants /cheques /demand draft should not be sent by ordinary post. It is recommended that investors should send such instruments by registered post or courier. |
| 12. |
For Non-Residents
It is recommended that Non-Resident Shareholders, for their own interest, should leave an address in India for easy communication as well as sending of dividend warrants etc. |
General Rights of Shareholders
To receive not less than 21 clear days notice of general meetings unless
consented for a shorter notice
| 1. |
To receive not less than 21 clear days notice of general meetings unless consented for a shorter notice |
| 2. |
To receive notice and forms for Postal Ballots in terms of the provisions for the Companies Act, 1956 and the concerned Rules issued there under.c |
| 3. |
To receive copies of Balance Sheet and Profit and Loss Account along with all annexure / attachments. |
| 4. |
To participate and vote at general meetings either personally or through proxy
(proxy can vote only in case of a poll) |
| 5. |
To receive dividends and other corporate benefits like bonus, rights etc. once approved. |
| 6. |
To demand poll on any resolution at a general meeting in accordance with the provisions of the Companies Act, 1956. |
| 7. |
To inspect statutory registers and documents as permitted under law.
|
Duties / Responsibilities of Investors
| 1. |
To remain abreast of corporate developments, company specified information and take informed investment decision(s) |
| 2. |
To be aware of relevant statutory provisions and ensure effective compliance therewith. |
| 3. |
Not to indulge in fraudulent and unfair trading in securities or to act upon any unpublished price sensitive information. |
| 4. |
To participate effectively in the proceedings of Shareholders meetings. |
| 5. |
To respond to communications seeking Shareholders approval through Postal Ballot. |
| 6. |
To respond to communications of SEBI / Depository / Depository Participant Brokers / Sub-brokers / Other Intermediaries / Company, seeking investor feedback comments. |
NEW BENCHMARK FOR INVESTOR SERVICE
The service standards that have been set up by the Company for various investor related transactions/ activities are as follows:
| PARTICULARS |
SERVICE STANDARDS
( No. of working days) |
| 1. Transfers |
21 |
| 2. Transmission |
21 |
| 3.Transposition |
10 |
| 4. Deletion of Name |
10 |
| 5. Folio Consolidation |
20 |
| 6. Change of name |
10 |
| 7. Demat |
10 |
| 8. Remat |
10 |
| 9. Issue of Duplicate Certificate |
21 |
| 10. Replacement of Certificate |
10 |
| 11. Certificate Consolidation |
10 |
| 12. Certificate Split |
10 |
| QUERIES/COMPLAINTS |
SERVICE STANDARDS
( No. of working days) |
| 1. Non- Receipt of Annual Reports |
21 |
| 2. Non- Receipt of Dividend Warrants |
21 |
| 3. Non-Receipt of Certificate |
10 |
| REQUESTS |
SERVICE STANDARDS
( No. of working days) |
| 1. Change of Address |
15 |
| 2. Revalidation of Dividend Warrants |
15 |
| 3. Bank Mandate/Details |
10 |
| 4. Nomination |
15 |
5. Power of Attorney |
- |
| 6. Multiple Queries |
15 |
Undelivered Share Certificates and Warrants
The Company with the help of its RTA has been engaged in a continuous exercise of tracking investors who could not be reached at their existing address.
Intimation letters to Investors
The Company gives an opportunity by sending intimation letters to Investors for claiming their outstanding dividend which is due for transfer to Investor Education & Protection Fund.
Information Regarding Tax on Dividend and Sale of Shares
The provisions relating to tax on dividend and sale of shares are provided for ready reference of Shareholders:
• No Tax is payable by Shareholders on Dividend. However the Company is required to pay dividend tax @15% and surcharge @10% together with education cess @ % and higher education cess@1%.
• Short Term Capital Gains (STCG) tax is payable @15% and surcharge @10% above income level of Rs.10 lacs in case of individuals together with education cess @2% and higher education cess @1% in case shares are sold within 12 months from the date of purchase.
• No Long Term Capital Gain Tax (LTCG) is payable on sale of shares through a recognized stock Exchange provided STT as mentioned above has been paid and shares are sold after 12 months from the date of purchase .
• Securities Transaction Tax (STT) is payable as under – 0.125% by both the purchaser and seller in respect of delivery based transactions.
Investor Servicing and Grievance Redressal at External Agencies
I. Ministry of Corporate Affairs
Ministry of Corporate Affairs (MCA) has launched a major e-governance initiative christened as “MCA 21” on the MCA portal (www.mca.gov.in) One of the key benefits of this initiative includes timely redressal of investor grievances. MCA 21 system accepts complaints under the e Form prescribed, which has to be filed online. The nature of complaint may relate to:
Shares/Dividends
Debenture/Bonds
Fixed Deposits-non-receipt of amount
Miscellaneous-non-receipts
Any other
The status of complaint can be viewed by quoting the Service Request Number (SRN) provided at the time of filing the complaint.
II. Investor Education and Protection Fund (IEPF)
IEPF is for promotion of investors’ awareness and protection of the interests of investors. IEPF through Investor Helpline is assisting investors free of charge in redressal of their grievances. It provides a facility to the investors, to lodge their grievance on the website itself. This facility is available on website www.investorhelpline.in . The complaints can be lodged on various issues such as
• Refund Order/ Allotment Advice related
• Non-Receipt of Dividend
• Non-Receipt of share Certificates/Units after allotment /transfer/Bonus Transmission etc.
• Non-Receipt of Debentures /Bond Certificate or Interest/Redemption Amount
• Offer for Rights Issue
• Non-Receipt of Investments and returns thereon on Collective Investment Schemes/ Plantation Companies
• Non-Receipt of Annual Report /AGM Notice /Proxy Form
• Non-Registration of Change in Address of Investor
• Non-Receipt of Fixed/Public Deposits related amounts
• Demat related Grievances
III. Securities and Exchange Board of India (SEBI)
SEBI, in its endeavor to protect the interest of the investors, has provided a platform wherein the investors can lodge their grievances. This facility is available on the SEBI website (www.sebi.gov.in) under the Investor Guidance Section. The complaints can be lodged on various issues such as:
Non-Receipt of dividend
Non-Receipt of Share certificates after transfer
Matters pertaining to non-receipt of allotment advice/Refund Orders
Matters pertaining to Debentures
Non-receipt of letter of offer of Rights
Any other
The investors after lodging the complaint can track the status as well
IV. Stock Exchanges
a) National Stock Exchange of India Limited (NSE) – NSE has formed an Investor Grievance Cell (IGC) to redress investor grievances electronically. IGC is manned by a team of professionals who possess relevant experience in the areas of capital markets, company and legal affairs, especially trained to identify the problem faced by the investor, and to find and resolve at the earliest. The Investors have to log on to the website of NSE i.e.www.nseindia.com and in the Investors Service Centre Section they can fill in Form I or Form II depending upon the type of complaint and file the same electronically with NSE. Generally complaints are resolved within a period of 45 days.
b) Bombay Stock Exchange Limited (BSE) – BSE provides an opportunity to its members to file their complaints electronically through its website www.bseindia.com under the Investor Desk Section. Here again as in case of NSE, the Investors can fill in various complaint forms depending upon the nature of their complaint and file them electronically.
V) Depositories
a) National Securities Depository Limited (NSDL) –In order to help its clients resolve their doubts ,queries ,complaints, NSDL has provided an opportunity wherein the can raise their queries by logging onto www.nsdl.co.in in under the ‘Query Now’ section or an e-mail can be marked mentioning the query to relations@nsdl.co.in
b) Central Depository Services (India) Limited (CDSL) –Investors who wish to seek general information on depository services may mail their queries to investors@cdslindia.com . With respect to the complaints /grievances of the demat accountholders relating to the services of the Depository Participants, mails may be addressed to complaints@cdslindia.com.
Other Information
A) Permanent Account Number (PAN)
SEBI has vide circular dated April 27,2007 MADE pan the sole identification number for all participants in the securities market, irrespective of the amount of transaction. Now onwards it has become mandatory to quote PAN before entering into any transaction in the securities market. PAN card is now mandatory for operating a demat account. Application for fresh allotment of PAN can be made through the internet. The detailed procedure on this has been mentioned on the website (www.tin-nsdl.com)
B) Insider Trading
‘Insider Trading’ is a process in which any person who is or was connected with the Company ,on the basis of possession of unpublished price sensitive information trades in the shares of the Company for personal gains to the detriment of other innocent investors. In order to prevent insider trading and protect the rights of innocent investors, SEBI has enacted the SEBI (Prohibition of Insider Trading) Regulations, 1992. As per Regulation 13 of the said Regulations initial and continual disclosures are required to be made by the investors as under:
Initial Disclosure
Any person who holds more than 5% shares or voting rights in any listed Company shall disclose to the company [ in Form A], the number of shares or voting rights held by such person, on becoming such holder within 4 working days of a) the receipt of intimation of allotment of shares; or b) the acquisition of shares or voting rights as the case may be
Continual Disclosure
Any person who holds more than 5% shares or voting rights in any listed company shall disclose to the Company (in Form C) the number of shares or voting rights held and change in shareholding or voting rights, even if such change results in shareholding falling below 5% if there has been change in such holdings from the last disclosure made under sub-regulation (1) or under this sub-regulation; and such change exceeds 2% of total shareholding or voting rights in the Company.
| Contact Details |
| • Ministry of Corporate Affairs |
‘A’ Wing ,Shastri Bhawan
Rajendra Prasad Road
New Delhi-110001
Phone : 011-23384660, 23384470, 23389403
Website: www.mca.gov.in |
| • Depositories |
National Securities Depository Limited
Trade World, A Wing, 4th & 5th Floors
Kamala Mills Compound,
Senapati Bapat marg, Lower Parel
Mumbai-400013
Tel: 022-24994200
e-mail: info@nsdl.co.in
Website: nsdl.co.in |
| • Central Depository Services (India) Limited |
Phiroze Jeejeebhoy Towers
16th Floor, Dalal Street,
Mumbai-400023
Tel: 022-22723333
e-mail:investors@cdslindia.com
Website: www.cdslindia.com
|
| • Registrar & Share Transfer Agents |
CB Management Services (P) Ltd.
P – 22, Bondel Road
Kolkata – 700 019
Telephone : (033) 2280 6692/93/94/2486, 40116700,
40116711, 40116718, 40116723
Fax : (033) 2287 0263
E-Mail: rta@cbmsl.com
|
| • Registrar of Companies |
Nizam Palace 2nd mso building 2nd floor, 234/4, AJC Bose Road Kolkata - 700020
Phone 033-2800409 fax 033-2473795 e-mail: roc.kolkata@mca.gov.in
|
| • Bombay Stock Exchange Limited (BSE) |
Phiroze Jeejeebhoy Towers
Dalal Street, Mumbai-400001
Tel: 022-22721233/1234
Fax: 022-22721919
e-mail: is@bseindia.com
Website: www.bseindia.com
|
| • The National Stock Exchange of India Limited |
“Exchange Plaza”, Plot No. C/1
‘G-Block’, Bandra Kurla Complex, Bandra (E)
Mumbai-400051
Tel: 022-26598100-8114
Fax: 022-2659-8120
e-mail: cense@nse.co.in
Website: www.nseindia.com
|
General Shareholder Information covering inter-alia listing details, stock market data, the Company’s share price performance etc. is provided in the Report on Corporate Governance forming part of the Annual Report.
The contents of this Referencer are for the purpose of general information of readers; for full particulars /provisions, readers are advised to refer to the relevant Acts/Rules/Regulations/Guidelines/Clarifications.
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