Recover Cipla Ltd Shares from IEPF
It is common for people to invest money into shares and forget to claim them, or the shares get dormant or unclaimed they expire before the shares are recovered. Thus, the shares remain unclaimed for many years in such cases. To ensure that unclaimed shares are transferred to and received or claimed by the rightful owner, the Ministry of Corporate Affairs (MCA) established the Investor Education and Protection Fund (IEPF).
According to Section 124 of the Companies Act, 2013, and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016, shareholders of a company can get a refund for their unclaimed shares or unpaid dividend transferred to the IEPF.
Cipla Limited is an Indian multinational pharmaceutical company, headquartered in Mumbai, India. Cipla primarily develops medicines to treat respiratory disease, cardiovascular disease, arthritis, diabetes, depression, and many other medical conditions.
The company was founded in the year 1935. Earlier the name of the company was The Chemical, Industrial & Pharmaceutical Laboratories incorporated in Mumbai. In July 1984, the company name was changed to Cipla Limited’ which is listed on Indian Stock exchange both at NSE and BSE.
The company was listed at the price of Rs 22 after initial public offering. The Corporate action has been declared by the company over a period of time since it is listed on stock exchange board of India in the form of a bonus, split, merger, or demerger. After the Bonus declared by CIPLA Ltd. multiple times since it is listed its
1 share of face value at Rs. 100 got turned into 720 shares at face value of Rs. 2 as per the present year.
CONTACT US TO RECOVER CIPLA LTD. SHARES
Cipla has split its stocks 2 times:100 to 10 and10 to 2
As Cipla’s stocks split 1 share gets Converted into 15 shares, therefore considering all bonuses, all shares get converted into 720*15=10800 shares currently.
The company has declared a bonus seven times in the past. At present, the current face value of Cipla Ltd. shares are Rs. 2/-.
If you have bought 10 shares of the company when it was listed then today it must have become the value of more than a crore. Cipla Ltd. is the 3rd largest company in India in the Pharmaceuticals Business sector.
The company’s Registrar Transfer Agent is KFIN Technologies Limited and presently Mr. Rajendra Chopra is the Company Secretary and Nodal Officer (IEPF) of CIPLA Ltd.
In 2021, Cipla Ltd. declared an Unclaimed Dividend of INR 13,507,590 to About 5500 shareholders.
Since the date Cipla Ltd. listed, if you had made an investment of INR approx. 200 between 1992-1994, then the percentage of return would be 45,35,900% and now the value of the investment would have been Approx 91,00,000.
How to Recover Cipla Ltd shares from IEPFA
Around 68,00,000 shares are unclaimed by the company. The good news is that shares can be retrieved from IEPF to its investors.
The question is, whether or not the Share Recovery process from IEPF or company is a tedious task if the investor has lost the shares of CIPLA Ltd. or the original shareholder is deceased and its legal heirs want claim shares the company.
The Good news is the answer is Yes! To recover these unclaimed shares of this company you need a Professional recovery consultant who are specialized expert is shares claim.
Who Can Apply to IEPF Authority for Recovery of Shares?
Shareholders whose unclaimed shares have been transferred to the IEPF may apply to the IEPF Authority for a refund. In a financial year, however, a claimant is only allowed to make one consolidated claim against a company. Various Folios from the same company should be included in the aggregated claim.
Shareholders whose unclaimed shares have been transferred to the IEPF may apply to the IEPF Authority for a refund. In a financial year, however, a claimant is only allowed to make one consolidated claim against a company. Various Folios from the same company should be included in the aggregated claim.
ARE YOU AN INVESTOR OF CIPLA LTD.?
To get your unclaimed shares recovered from Cipla LTD, you need a professional Shares Recovery Consultant.
This is where ‘Shares Recover” team come into play.
Recovery of shares consists of a lot of technicalities, and a good investment of time as well. If any pre-requisite legal compliances get missed, then there will be a lot of difficulties to reclaiming these unclaimed shares. It would be wise to let the expert of “Shares Recover” take the burden off your shoulders and get your claim retrieved in turnaround time as suggested by our experts. We can help you to recover your unclaimed share of Cipla Ltd.
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