An NRI’s shares in IEPF and bonus shares in a suspense account

The situation

An NRI client held shares in physical form in a company that had since issued bonus shares. The original shares and their dividends had been transferred to the IEPF, while the bonus shares had been credited to the company’s suspense account.

The challenge

Each holding had to be recovered through a different process, with separate submissions for the IEPF claim and for the suspense account. As the client lived abroad, the documents also had to meet the requirements for apostille, international notarisation and NRO demat compliance.

What we did

• Explained each recovery route and the documents required for it
• Prepared and coordinated separate submissions for the IEPF claim and for the bonus shares in the company’s suspense account
• Supported the documentation and verification needed for the client’s NRI status, including apostille and notarisation abroad
• Helped meet the NRO demat account compliance requirements
• Coordinated between the client, the company, its registrar and the other parties involved, with structured follow-up

The outcome

The client was able to pursue recovery of both the IEPF-held shares and the bonus shares in the suspense account. The case shows the extra complexity NRI shareholders face in recovering legacy investments, and why each claim must go through its correct process.

Client identity withheld for privacy. Every case is different, and timelines depend on the companies, registrars and documents involved.