Visaka Industries Limited has issued a public reminder to shareholders who have not claimed their dividends for seven or more consecutive years. This reminder, published in Business Standard (English) and Velugu (Telugu), informs shareholders that their shares are liable to be transferred to the Investor Education and Protection Fund (IEPF) Authority in accordance with Section 124(6) of the Companies Act, 2013, and the related rules.
The company has sent reminder letters to the shareholders in question, urging them to claim their dividends before the shares are transferred. This notice reflects the company’s commitment to regulatory compliance and ensures that shareholders are informed about their rights and responsibilities.
Summary in Points: • Date of Reminder: March 26, 2025
• Affected Shareholders: Those with unclaimed dividends for 7+ years
• Action: Shares liable for transfer to IEPF Authority
• Regulatory Basis: Section 124(6) of the Companies Act, 2013, IEPF Rules
• Newspaper Publication: Business Standard (English), Velugu (Telugu)
• Company’s Commitment: Ensuring shareholder rights and regulatory compliance
Effect on Share Market: The public notice regarding unclaimed dividends is unlikely to have a direct impact on Visaka Industries’ stock price. However, it demonstrates the company’s compliance with regulations and could strengthen investor confidence. Shareholders will be motivated to claim their dividends, preventing the transfer of their shares to the IEPF.
Company Overview: Visaka Industries Limited is a well-established manufacturer of building products and textiles in India. Founded in 1981, the company is known for producing asbestos cement roofing sheets, V-Next boards, and textile yarn. With its commitment to sustainability and innovation, Visaka Industries has built a strong reputation across the construction and textile sectors.
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