FAQs

Share Certificate alongwith duly executed share transfer deed mentioning the name of the transferor and transferee, duly signed and stamped should be sent to the R & TA i.e. MCS Share Transfer Agent Ltd. The signatures should preferably be attested by a Bank or notary or a Magistrate to avoid objection of mismatch of signatures. At the back of the share transfer deed share transfer stamps of 0.25% of the market value of the shares or the consideration value, whichever is higher as on the date of execution of share transfer deed has to be affixed. The transferee will have to attach a copy of self attested PAN card.

The process of transfer usually takes 15 days in case of duly filled in and executed share transfer deed alongwith share certificate lodged with Registrar /IFCI Ltd.

Transmission of shares arises in case of death of the registered shareholder. For transmission of shares, the documents given in Annexure I should be submitted.

If the shares are held in joint names, the deceased shareholder’s name only is deleted. A copy of the death certificate of the deceased registered shareholder, duly attested by competent authorities (magistrate, notary, public, gazette officer, managers of nationalized banks or officials of IFCI) is to be sent to Registrar /IFCI alongwith the share certificate.

In case of single shareholder, the shares will be transmitted in favour of those persons who are heirs of the deceased registered shareholder as per the will executed by him.

In case the deceased shareholder had not left any will, transmission of the shares will be effected only on production of succession certificate or letters of administration.

To convert the shares into demat form, the shareholders have to open a Depository Account with a Depository Participant (DP).

In the demat process, the shareholders are required to surrender the certificates to its DP. The DP in turn processes them to R & TA, which is verified and if found in order, is dematerialized and an equivalent number of shares credited electronically by DP to the account of the shareholder.

IFCI did not declare any dividend from 1999–2000 to 2007-08. Dividend declared upto 1998-99 and remaining unpaid has already been transferred to Investor Education & Protection Fund (IEPF) and it cannot be claimed.

From 2008-09 onwards, the company has declared dividend. In case of non receipt of same, the investor should write to the company or its R & TA, quoting the folio no. / DP – client Id no.