Can I authorise my bank or any other person to receive dividends on my behalf?
Yes. You will have to write to us furnishing the name and address of the authorised person/bank and your folio number and we shall record your instructions accordingly and dispatch the warrant to the mandatee. Please note that this procedure is applicable only if you are holding shares in physical form. Why can’t the company take on record the bank details in case of dematted shares? As per the Depository Regulations, the company is obliged to pay dividend as per the details of demat shareholders furnished by the concerned Depository Participant. The company cannot make any change in such records received from the Depository. What is Electronic Clearing Service (ECS)? This facility enables the dividend payable, to be credited to your bank account provided by you, through RBI’s National Clearing Cell. ECS offers the following benefits to the shareowners: • Immediate credit of dividend directly into your bank account • No need to fill up pay-in-slip and deposit warrant into bank • Safegu
