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SEBI amends LODR norms; inserts new regulation specifying process to deal with unclaimed non-convertible securities

September 8, 2021
The SEBI has notified the SEBI (LODR) (Fifth Amendment) Regulations, 2021 wherein a new regulation 61A has been inserted which specifies the procedure for dealing with unclaimed non-convertible securities and benefits accrued thereon. Now listed entities shall not forfeit unclaimed interest/dividend/redemption amount. However, where the amount has not been claimed within 30 days from the due date, a listed entity shall within seven days transfer the amount to an escrow account.
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