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SEBI seeks information on unclaimed non-convertible securities

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The information has been sought from entities that do not fall within the definition of ‘company’ under the Companies Act 2013

The information has been sought from entities that do not fall within the definition of ‘company’ under the Companies Act 2013

The Securities & Exchange Board of India (SEBI) has directed all entities that had listed non-convertible securities to submit information on unclaimed non-convertible securities and dividend amounts by September 15, 2022. 

The information has been sought from entities that do not fall within the definition of ‘company’ under the Companies Act 2013, and the rules made thereunder, and the entities which had listed non-convertible securities. 

These include non-convertible debt securities, non- convertible redeemable preference shares and perpetual non-cumulative preference shares and perpetual debt instruments) under the SEBI (Disclosure and Investor Protection) Guidelines 2000, SEBI (Issue and Listing of Debt Securities), Regulations, 2008 or SEBI (Issue and Listing of Non-convertible Redeemable Preference Shares), 2013.

All entities that had unclaimed interest/ dividend and/ or principal/ redemption amount on the said instruments were also required to provide information as on August 31, 2022, SEBI said in a public notice. 

According to analysts, this move is to bring transparency into the books and accounts of limited liability partnerships (LLPs), trusts, partnership firms, and societies that issue non-convertible securities.



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