Claiming Shares Back explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Shares that go to the Investor Education and Protection Fund (IEPF) can be claimed back by the rightful owner or their heirs. When the owner's physical certificates are lost, rule 7 of the IEPF Rules routes the claim through Schedule III, which asks for specific documents, including an indemnity bond, and through the company's verification of the claim. This guide takes the steps in order, as per the Companies Act, 2013 in the Ministry's consolidated text (last updated 29 July 2022) and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 as consolidated in the Ministry's e-book, consulted on 3 October 2026. Later amendments should be checked.
Under the proviso to section 124(6), a claimant of shares transferred to the IEPF may claim them in accordance with the prescribed procedure and documents. Rule 7 requires an online application in Form IEPF-5, which goes to the company's Nodal Officer for verification; the company sends an online verification report to the Authority within thirty days of receipt of the claim. Where original certificates are lost, the Explanation to rule 7(3) and Schedule III apply: a police complaint or FIR copy and a newspaper advertisement where the value is above rupees five lakh, and an indemnity bond on non-judicial stamp paper, notarised.
Why the shares are in the IEPF
Section 124(6) requires all shares on which dividend has not been paid or claimed for seven consecutive years or more to be transferred by the company to the IEPF, with a statement of the prescribed details. The Explanation says that if any dividend is paid or claimed in any of the seven years, the share is not transferred. Section 125(3)(a) lets the Fund be used for refunds of unclaimed dividends and other amounts, and the claim route for shares is the proviso to section 124(6) with rule 7. Rule 6 describes how the shares reach the Fund: the company informs the shareholder at the latest available address three months before the due date and publishes a notice in a leading English and regional newspaper; for shares in physical form, the Company Secretary or a person authorised by the Board applies on the shareholder's behalf for a new share certificate, stated on its face to be "Issued in lieu of share certificate No ... for the purpose of transfer to IEPF", recorded in the register, and then converted to demat form by corporate action in favour of the Authority.
If you want help preparing a claim, see our compliance advisory service. For the company-side calendar, see our IEPF compliance calendar.
The claim steps: rule 7
- File Form IEPF-5 online. Rule 7(1): a person whose shares have been transferred to the Fund may claim them by an online application in Form IEPF-5 on the Authority's website with the fee the Authority specifies. This article states no fee and no portal steps.
- The form goes to the company. Rule 7(2): on submission, Form IEPF-5 is transmitted online to the Nodal Officer of the company for verification.
- Send the physical documents. The proviso to rule 7(2): the claimant sends the original physical share certificate (or bond, deposit or debenture certificate), with indemnity bond, advance receipts and any other document listed in Form IEPF-5, duly signed, to the Nodal Officer at the company's registered office.
- Company's verification. Rule 7(3): within thirty days from receipt of the claim, the company sends an online verification report to the Authority, with the claimant's documents and scanned copies, duly certified by the Nodal Officer.
- Authority's decision. Rule 7(4): for shares, the Authority issues a refund sanction order with the approval of the Competent Authority and credits the shares to the demat account of the claimant. Rule 7(6): an application duly verified by the company is disposed of within sixty days of receipt of the verification report; delay beyond sixty days is recorded in writing with reasons.
If information is called for or defects are found, rule 7(7) requires the claimant to respond within fifteen days from receipt (and the company within thirty days with a revised report), failing which the Authority may reject the claim. Under the third proviso to rule 7(3), where the Authority does not receive the verification report and documents sixty days after the form is filed, it may reject the form after giving fifteen days to respond.
What the company's Nodal Officer is
Rule 7(2A): every company that is required to credit amounts or shares to the Fund, or has deposited or transferred, nominates a Nodal Officer, who is a Director, the Chief Financial Officer or the Company Secretary, for verification of claims and coordination with the Authority. A Deputy Nodal Officer may assist; if no Nodal Officer is appointed, every director is deemed to be the nodal officer. The details are communicated in Form IEPF-2 and the name and e-mail ID are displayed on the website (rule 7(2B)).
When the physical certificates are lost
The Explanation to rule 7(3) says that in case of loss of the original physical share certificate or proof of entitlement, the company and the claimant follow the procedure in the Companies (Share Capital and Debentures) Rules, 2014, the SEBI listing regulations, guidelines and circulars as issued, and Schedule III; the company attaches scanned copies of both sides of the share certificate generated under rule 6(3)(d), and is solely responsible for collecting the original documents from the claimant. Schedule III prints these documents for loss of securities in physical mode:
| Item | Document | Condition printed |
|---|---|---|
| 1 | Self-attested copy of the FIR or police complaint, with holder details, folio number and distinctive numbers | If the market value of the securities is greater than five lakh rupees |
| 3 | Indemnity bond by the security holder on non-judicial stamp paper of requisite value, attested by a Notary Public, that he has not sold or disposed of the securities or acted so as to create a third party's interest | Always listed |
| 4 | Copy of an advertisement regarding loss of securities in a widely circulated newspaper | If the market value is greater than five lakh rupees |
| Explanation I | A foreign national or non-resident Indian may give a self-declaration of loss, notarised, apostilled or consularised in the country of residence, with a passport copy and overseas address proof, in place of the FIR | As printed |
Explanation II fixes the value as on the date of application, using the closing price at any one recognised stock exchange on the day before the submission for listed securities, and for unlisted securities the face value or maturity value, whichever is more.
Contrast: shares still with the company
Where the shares are still registered with the company (not in the IEPF), rule 6(2) of the Share Capital Rules governs a duplicate certificate: it is not issued for a lost or destroyed certificate without the prior consent of the Board and payment of the fee the Board thinks fit, not exceeding rupees fifty per certificate, on reasonable terms such as supporting evidence and indemnity; it must say "duplicate"; and an unlisted company issues it within three months, a listed company within forty-five days, from submission of complete documents. See our guide on duplicate share certificates.
If the claimant is a legal heir
Rule 7(8): where the claimant is a legal heir, successor, administrator or nominee of the registered holder, the claimant submits self-attested scanned copies of the documents in Schedule II online with Form IEPF-5; if the physical securities are lost, additionally the Schedule III documents; and sends the originals, signed, to the Nodal Officer. Schedule II lists, for physical securities held singly with a nomination, a signed request, the death certificate, PAN copy, the original certificate and the nominee's identity proof; without nomination, an affidavit from the legal heirs and, up to the value printed (five lakh rupees for securities in physical mode), a succession certificate, probate, will, letters of administration or decree, or a legal heir certificate from the revenue authority, or, in their absence, a no objection from all legal heirs or a notarised family settlement and an indemnity bond; above that value, a succession certificate or equivalent. See our guide on transmission of shares on death. Rule 7(9) covers the company's letter on entitlement where a transmission request comes after the shares went to the Authority.
Worked example (invented figures)
Mr Arun Gupta claims 500 shares of Zenith Components Limited from the IEPF; his original certificates are lost. The closing price on the day before he applies is Rs 800. Value: 500 x 800 = Rs 4,00,000. That is not greater than five lakh rupees, so Schedule III items 1 (FIR) and 4 (newspaper advertisement) do not apply by their terms. Item 3, the notarised indemnity bond on non-judicial stamp paper, is still required. Zenith's Nodal Officer verifies and reports within thirty days of receiving the claim, attaching the scanned copy of the certificate generated at transfer.
Common mistakes
- Treating the claim as a transfer request to the company; it is made to the Authority in Form IEPF-5.
- Missing the physical dispatch of signed documents to the Nodal Officer.
- Skipping the indemnity bond because the value is below the threshold.
- Valuing the shares on the wrong day or at the wrong price.
- A legal heir leaving out the Schedule II documents.
Need help with an IEPF claim?
We can prepare the claim set, the indemnity and affidavits and liaise with the company's Nodal Officer. See our compliance advisory service.
Key takeaways
- Claim in Form IEPF-5; the company verifies through its Nodal Officer within thirty days.
- Lost certificates: Schedule III documents, including an indemnity bond.
- FIR and newspaper advertisement apply above rupees five lakh in value.
- Legal heirs add Schedule II documents.
- The Authority disposes of a verified claim within sixty days of the report.
Read next
- IEPF Compliance Calendar for Companies
- Transmission of Shares on a Shareholder's Death
- How to Claim Shares Back From the IEPF
- IEPF-5 Refund Claim Guide
Disclaimer: Based on the Companies Act, 2013 in the Ministry of Corporate Affairs consolidated text (last updated 29 July 2022), the Rules as consolidated in the Ministry's e-book and the other official texts named in this article, as consulted on 3 October 2026. Later amendments, notifications, circulars, forms and fees should be checked. Formats are general drafts to be adapted to the company's articles and facts. This article is general information, not legal advice; check the official text before acting.