We get a lot of calls from concerned shareholders about understanding the process for retrieving their shares from RTAs/Company and IEPF.
It’s a cumbersome process which requires alacrity and attention to details while corresponding with the RTA/Company or IEPF. The process tests your patience, both in terms of time and assembling of paper work.
Shareholders need to understand that the initiation of process requires them to first identify the nature of their potential problems. Shareholders who live in denial, are often the most who are harassed by the stringent process.
For any shareholder who intends to work by themselves needs to understand two aspects of the process, viz. Flow of communication with RTA/Company/IEPF and Time taken for processing of communication.
Flow of Communication
The above flow chart depicts the process and flow of communication with respect to the duplicate issue of shares and also encapsulates the process of retrieval of shares from IEPF. The flow of communication might differ with respect to different RTAs but the line of thought might remain the same.
The success of any correspondence depends on the understanding of the issues by the respective shareholder. The shareholder must understand that it is not the prerogative of the RTA to make you understand the discrepancies with the respect to his/her case.The RTA will keep rejecting the documents if it does not adhere to its language and format.
These flow of communications makes the process cumbersome and complex and requires a lot of patience.
Time taken for Processing Communication
The above image depicts the cumulative time taken to process the correspondence between the RTA/Company/IEPF and shareholder. Timelines might differ with different RTAs with respect to complexity of cases, with simple matters taking less time than complex matter.
These timelines portray how much time a shareholder needs to invest to reclaim his investment. When it becomes a never-ending saga, usually a lot of people lose interest in the middle of the process.
Through our Self-serve tech platform “Sanjeevani”, we have tried to address both these issues by tracking both flow of communication and managing timelines.