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Report of the Directors • 93
During the financial year 2018-19, pursuant to the resolutions passed by the Compensation and Remuneration Committee
of the Board of Directors by way of circulation, employees including ex-employees exercised their stock options for
shares which were already vested in their name. During this exercise, 560,732 (Five Hundred Sixty Thousand Seven
Hundred and Thirty Two) i.e. 0.68% Equity shares of the total paid-up capital were transferred from PSPL ESOP
Management Trust to these ESOP grantees at an aggregate value of ` 68.92 Million under various ESOP Schemes of
your Company.
Your Company has 12 (Twelve) ESOP Schemes as on March 31, 2019 under which options were granted to various Independent
Directors, employees of the Company and its subsidiaries, details of which are given elsewhere in this Annual Report.
Shares Suspense Account
Your Company had opened an ‘Unclaimed Securities Suspense Account’ on behalf of the allottees who were entitled to the
Equity Shares under the initial public offering. Some of the Equity Shares could not be transferred to the respective allottees
due to technical reasons. Such shares were held in ‘Unclaimed Securities Suspense Account’, to be transferred to allottees as
and when they approach your Company. Your Company has been regularly uploading details of such unpaid/unclaimed shares
on its website and on the website of the Ministry of Corporate Affairs as well.
During the year under report, out of 280, 140 unclaimed Equity Shares in the Suspense Account were transfered to the IEPF
Suspense Account after following the due process. The other 140 Equity Shares are the bonus shares issued and alloted on
March 12, 2015. This shares will be transferred to the IEPF Suspense Account as and when they become due for transfer.
The current balance in the above-mentioned Suspense Account as on March 31, 2019 is 140 Equity Shares owned by 7 allottees.
The details of equity shares held in an ‘Unclaimed Securities Suspense Account’ are as follows:
Sr.
No.
Particulars Details
1. Aggregate number of allottees in the Unclaimed Securities Suspense Account lying at the
beginning of the financial year 2018-19
7 allottees
2. Aggregate number of the outstanding Equity Shares in the Unclaimed Securities Suspense
Account lying at the beginning of the financial year 2018-19
280 Equity Shares
3. Number of allottees who approached issuer for transfer of shares from Unclaimed Securities
Suspense Account during the financial year 2018-19
NIL
4. Number of shares transferred from Unclaimed Securities Suspense Account during the
financial year 2018-19 to the allottees
NIL
5. Number of shares transferred from Unclaimed Securities Suspense Account during the
financial year 2018-19 to the IEPF Suspense Account
140 Equity Shares
6. Aggregate number of allottees in the Unclaimed Securities Suspense Account lying at the
end of the financial year 2018-19
7 allottees
7. Aggregate number of outstanding equity shares in the Unclaimed Securities Suspense
Account lying at the end of the financial year 2018-19
140 Equity Shares
Note – Voting rights on the above-mentioned equity shares are kept frozen till the rightful owner of such equity shares claim
these shares. Once the rightful owner claims these shares, the shares along with accumulated dividend will be transferred to
the rightful owner.
Transfer of Unclaimed Dividend and corresponding shares to the IEPF Authority
During the year under report, the Company has transferred the unclaimed and unpaid dividend of ` 97,407 to the IEPF Authority.
Further, 69 corresponding shares on which the dividend was unclaimed for seven consecutive years were transferred as per the
requirement of the IEPF Rules. The details are provided in the shareholder information section of this Annual Report and also
available on our website:
Institutional Holding
As on March 31, 2019, the total institutional holding in your Company stood at 42.80% of the total share capital.