ICICI Lombard General Insurance Company Limited has informed shareholders and the stock exchanges that the unclaimed final dividend for financial year 2018-19, along with the corresponding equity shares, is due to be transferred to the Investor Education and Protection Fund (IEPF) on July 30, 2026. The move affects shareholders who have not encashed this dividend for seven consecutive years, and it is part of a wider, statutory process that several listed Indian companies are currently going through.
Scheduled Transfer
30 July 2026
Dividend Concerned
FY 2018–19
Applicable Period
7 Consecutive Years
What Has Happened
ICICI Lombard sent a communication to the BSE and the NSE, and separately to affected shareholders, informing them that the final dividend declared for FY 2018-19 has remained unclaimed for seven years and is therefore due for transfer to the IEPF. Since the corresponding shares are also unclaimed, they too are liable to be transferred, in line with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.
The company had asked demat shareholders to update their bank details with their depository participant, and physical shareholders to submit signed Investor Service Request Forms (ISR) along with supporting documents to the company's registrar and transfer agent, KFin Technologies Limited, by June 1, 2026. The company noted that if valid claims or updated details were not received by that date, the dividend and shares would move to the IEPF without further notice on the scheduled date.
Why This Happens: The Seven-Year Rule
Under Section 124 of the Companies Act, 2013, read with the IEPF Rules, 2016, any dividend that remains unpaid or unclaimed for seven consecutive years must be transferred by the company to the IEPF. Along with the money, the shares on which such dividend was not claimed are also compulsorily transferred to the IEPF, even if the shareholder is otherwise active and traceable. This is a statutory requirement, not a decision the company can waive.
This rule catches out a large number of investors who changed their address, closed an old bank account, held shares in physical form, or simply forgot about a small shareholding inherited from family. It also affects legal heirs who may not even be aware that a deceased relative held these shares.
Key Facts Verified From Company and Regulatory Disclosures
The company's disclosure also referred to the Investor Education and Protection Fund Authority's second "Saksham Niveshak" 100-day awareness campaign, run by the Ministry of Corporate Affairs from April 1, 2026 to July 9, 2026, which encouraged companies and shareholders to complete KYC updates and claim pending dividends before such transfers take effect.
Part of a Wider Pattern Across Listed Companies
ICICI Lombard is not the only listed company going through this cycle. Several other companies have issued similar shareholder reminders around the same period, tied to their own dividend-declaration history and the seven-year cut-off applicable to FY 2018-19 payouts. This reflects the annual compliance cycle under Section 124 rather than any company-specific development, and shareholders of other companies would do well to check their own holdings for similar notices.
Separately, the Securities and Exchange Board of India (SEBI) has, by way of a circular dated January 30, 2026, opened a special window for re-lodgement of physical share transfer requests that were originally filed on or before April 1, 2019 but were rejected, returned, or left unprocessed due to deficiencies. This window is open from February 5, 2026 to February 4, 2027 and is relevant to investors still holding physical share certificates who had earlier tried, unsuccessfully, to transfer or convert them.
SEBI has also, through the Listing Obligations and Disclosure Requirements (Fifth Amendment) Regulations, 2025, notified on November 18, 2025, amended Regulation 12 of the LODR Regulations to require listed companies to use only Reserve Bank of India-approved electronic modes for paying dividends, interest, and redemption or repayment amounts. This removes the earlier option of issuing physical warrants or cheques as a fallback, which is part of why companies are now pressing shareholders harder to keep bank details current.
What This Means for Shareholders and Legal Heirs
For ICICI Lombard shareholders specifically, if the FY 2018-19 dividend and related shares were not claimed by the company's stated deadline, the transfer to IEPF on July 30, 2026 will proceed as a statutory action. Once shares move to the IEPF, no claim can be made against the company for them; the only route to recovery is a formal application to the IEPF Authority itself.
For Legal Heirs
For legal heirs, the situation is often more complex. If the original shareholder has passed away and the shares were never transmitted into the legal heir's name, the heir generally needs to first complete transmission formalities with the company or its RTA, and only then pursue a claim if the shares have already gone to the IEPF.
For Other Investors
Investors who hold shares of other companies, especially older physical certificates or demat holdings tied to outdated bank accounts, should treat this as a prompt to check their own portfolios rather than assume the issue is unique to ICICI Lombard.
Action Points for Investors
Check old dividend records or bank statements to see whether any dividend from ICICI Lombard, or any other company, has gone unclaimed for several years.
Visit the IEPF Authority's website to search company-wise lists of shareholders whose shares are due, or have already been, transferred to the IEPF.
If shares are still with the company (not yet transferred), contact the company's investor relations team or its registrar and transfer agent immediately to update KYC and bank details and claim the dividend before the transfer date.
If shares have already been transferred to IEPF, note that no claim can be made against the company any longer; recovery has to be pursued directly with the IEPF Authority.
For inherited shares, first establish legal-heir or nominee status with the company or RTA through the transmission process, since IEPF claims typically require this to be settled beforehand or alongside the claim.
Keep PAN, Aadhaar, a cancelled cheque, and any old share certificates or contract notes ready, as these are commonly required documents in the claim process.
How the IEPF Claim Process Works
Once dividends and shares have been transferred to the IEPF, a claimant needs to file Form IEPF-5 electronically through the Ministry of Corporate Affairs portal. After online submission, the claimant is generally required to send the printed acknowledgement along with prescribed supporting documents, such as an indemnity bond and proof of entitlement, to the nodal officer of the concerned company for verification, within the timeline prescribed under the IEPF Rules. The company then verifies the claim and forwards its report to the IEPF Authority, which processes the claim and, if approved, credits the shares to the claimant's demat account and the dividend amount to their bank account.
There is currently no fixed expiry period by which an IEPF-5 claim must be filed after the transfer, but delays only add to the documentation an investor or legal heir may eventually need to gather, so early action is generally advisable.
Frequently Asked Questions
What is the IEPF and why do companies transfer shares to it?
The Investor Education and Protection Fund is a statutory fund administered by the IEPF Authority under the Ministry of Corporate Affairs. Companies are legally required to transfer dividends unclaimed for seven consecutive years, along with the corresponding shares, to this fund under Section 124 of the Companies Act, 2013.
I am an ICICI Lombard shareholder. Can I still act before July 30, 2026?
The company had set June 1, 2026 as the deadline for updating details and claiming the dividend to avoid transfer. If the transfer proceeds as scheduled on July 30, 2026 and a shareholder's dividend and shares have not been claimed, the only remaining route is to approach the IEPF Authority directly after the transfer takes effect.
Can I get my shares back after they are transferred to IEPF?
Yes. Shares transferred to the IEPF can be reclaimed by filing Form IEPF-5 with the required supporting documents and completing the verification process with the company and the IEPF Authority. Approval is not automatic and depends on the claimant successfully establishing their entitlement.
How can legal heirs claim shares of a deceased shareholder from IEPF?
Legal heirs generally need to first complete the transmission of shares in their own name with the company or its registrar and transfer agent, using succession documents such as a legal heir certificate, succession certificate, or probate, as applicable. Once ownership is established, they can pursue the IEPF-5 claim process for shares already transferred to the fund.
Is there a deadline to file an IEPF claim after the shares are transferred?
There is no fixed expiry currently prescribed for filing an IEPF-5 claim, but the underlying rules and documentation requirements can change over time, so it is advisable not to delay unnecessarily.
How do I check if I have any unclaimed dividends or shares with a company?
Shareholders can check the "Unpaid/Unclaimed Dividend" or IEPF disclosures on a company's investor relations page, search the IEPF Authority's records by name or PAN, or contact the company's registrar and transfer agent directly.
Conclusion
The transfer of ICICI Lombard's unclaimed FY 2018-19 dividend and shares to the IEPF on July 30, 2026 is a routine, statutory outcome of the seven-year unclaimed-dividend rule under the Companies Act, not an isolated corporate action. It serves as a useful reminder that dormant shareholdings across many companies are quietly moving to the IEPF each year, and that recovering them afterwards, while possible, requires a more formal and document-intensive process than simply updating one's bank details in time.