MANDATE FOR PAYMENT OF DIVIDEND THROUGH
NATIONAL ELECTRONIC CLEARING SERVICE (NECS)
You may be aware that Securities and Exchange Board of India (SEBI) has advised all companies to mandatorily use National Electronic Clearing Service (NECS) for distributing dividends. Under NECS, dividend payable would be directly credited to shareholder’s Bank Account provided by shareholder, through RBI’s National Clearing Cell. NECS offers the following benefits to the shareholder :-
Immediate credit of dividend directly into shareholder’s Bank Account, separate intimation giving details thereof, will be sent to the shareholder.
Safeguard against misplacement or fraudulent encashment
Avoidance of filling up of pay-in-slips and depositing the dividend warrants in the Bank
Intimation of credit in the pass book/statement issued by the shareholder’s Banker
In view of the conveniences which NECS offer, we request you to REGISTER your bank details by sending a duly signed request letter (Click here for format)along with a cancelled cheque and self-attested photocopy of PAN card to our Registered Office address.
Whenever the shares given in the folio are entirely dematerialized, then this NECS mandate form will stand rescinded.
In this regard your Company has already posted necessary letters to all shareholders separately.
In the event of no response from you or your center not available for NECS, the dividends shall be issued through warrants only.
If you are holding shares in DEMAT form, we request you to REGISTER / UPDATE your bank details with Depository through your Depository Participant.
In case you have any queries, we shall be glad to respond on hearing from you.
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