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Coverage

Unclaimed property

India — unclaimed deposits (RBI DEA Fund and UDGAM) and unpaid dividends and shares (IEPF)

NationalINDerived or secondary source

India

Rule id
unclaimed.in
Version
1.0.0
In force from
May 24, 2014
Last read against its sources
August 5, 2026
Countries bound
India

In plain language

What this regime says.

India runs two large custodial schemes. Bank deposits unclaimed for ten years go to the Reserve Bank's Depositor Education and Awareness Fund and are searchable on UDGAM; dividends unpaid for seven years, and the shares attached to them, go to the Investor Education and Protection Fund and are reclaimed on Form IEPF-5. Neither right expires.

Who is covered

Anyone who has held an Indian bank deposit or shares in an Indian company, and their legal heirs.

What you get

The deposit with interest, or the dividend and the shares themselves. We are not stating a rate.

Where claims go wrong

  • Chasing the dividend and not realising the shares went with it under s. 124(6).
  • Not searching under a parent's or grandparent's name, where most old Indian share holdings sit.
  • Paying a recovery agent a percentage of recovered shares for a form you can file yourself.
  • Leaving the registrar's verification to the end, when it is the step that actually decides the claim.
The official claim route

Authority

Every citation,
with its pinpoint.

A claim that cites “EU law” gets filed. A claim that cites Article 7(1)(c) gets answered. These are the exact coordinates this entry rests on.
  1. Banking Regulation Act 1949, s. 26ABanking Regulation Act 1949 (India)URL verified 2026-08-05s. 26A (credit of unpaid deposits inactive for ten years to the Depositor Education and Awareness Fund; s. 26A(3) preserves the depositor's right to claim from the bank, which is then refunded by the Fund)
  2. Companies Act 2013, ss. 124–125Companies Act 2013 (India)URL verified 2026-08-05s. 124(5) (unpaid dividend unclaimed for seven years transferred to the Investor Education and Protection Fund), s. 124(6) (the underlying shares transferred with it), s. 125(3)(a) (refund to the claimant)

Sources

Where a figure is indexed, converted or published by a regulator rather than fixed in the instrument, the provenance is recorded separately. Anything marked as a modelled estimate is exactly that — a model, not a statutory number.

What it imposes

Clocks, defences and the ladder.

A rule module builds these while it evaluates, because a limitation period depends on which forum is open to you. What follows is the structure this regime produces — deliberately with no dates and no figures, because those belong to your facts rather than to the law.

The clocks it starts

  • There is no deadline for claiming this propertyBoth Indian schemes are custodial. Section 26A(3) preserves the depositor's right to claim the deposit with interest from the bank at any time, with the bank then reimbursed from the Fund. Section 125(3)(a) of the Companies Act gives the shareholder or their legal heir the right to claim a refund of amounts, and the shares, from the IEPF. Neither right is subject to a cut-off.Banking Regulation Act 1949, s. 26A — s. 26A (credit of unpaid deposits inactive for ten years to the Depositor Education and Awareness Fund; s. 26A(3) preserves the depositor's right to claim from the bank, which is then refunded by the Fund)Filing window

What it entitles you to, beyond money

  • A right to reclaim that no delay defeatsThe administrator holds this property as custodian. It never becomes the state's money, so there is no point at which it becomes too late to ask, and a gap of decades is not an answer to your claim. Do not let anyone tell you otherwise — including a finder trying to create urgency.s. 26A (credit of unpaid deposits inactive for ten years to the Depositor Education and Awareness Fund; s. 26A(3) preserves the depositor's right to claim from the bank, which is then refunded by the Fund)
  • Interest or indexation on the sum heldA deposit refunded under s. 26A is paid with interest, at the rate the Reserve Bank specifies for the Fund. Ask for the interest calculation with the refund; it is frequently omitted from the first offer.s. 26A (credit of unpaid deposits inactive for ten years to the Depositor Education and Awareness Fund; s. 26A(3) preserves the depositor's right to claim from the bank, which is then refunded by the Fund)
  • A route for heirs and estatesFor a deposit, the nominee or the legal heir claims from the bank with the death certificate and, where there is no nomination, a succession certificate or legal heir certificate. For shares held by the IEPF, the legal heir files IEPF-5 supported by the transmission documents the company's registrar requires — the registrar's verification report is the step that decides the claim, so deal with the registrar early.s. 26A (credit of unpaid deposits inactive for ten years to the Depositor Education and Awareness Fund; s. 26A(3) preserves the depositor's right to claim from the bank, which is then refunded by the Fund)
  • A free search of the official registerSearching UDGAM, the RBI's centralised unclaimed deposits search costs nothing and requires no account, no fee and no intermediary. Search under every name you have used.

What the other side will say

Each of these is a refusal this regime lets a counterparty attempt, paired with the answer to it. Reading them before you write is worth more than any amount of polish on the letter itself.

A "recovery agent" or "asset locator" contacts you first

high likelihood

A firm writes or calls saying it has located money in your name and will recover it for a share — commonly a quarter to a half — and asks you to sign a locator agreement before it will tell you where the money is or who holds it.

What answers it

Every register in this product is free to search and free to claim from, and the office holding the money will not pay a finder any faster than it pays you. You do not need to know where the money is to find it: search the official portal for your own name. If you have already signed, check the statutory finder rules for the jurisdiction — most void an agreement made within a defined window after the property reached the administrator and cap the fee thereafter, and an agreement that breaks those rules is unenforceable against you.

"The owner is deceased and you have not proved you are entitled"

high likelihood

The register holds property in a dead relative's name and the administrator asks for grant of probate, letters of administration or an equivalent that the family never obtained because the estate looked too small to be worth administering.

What answers it

Ask the office what its small-estate route is before you pay for probate. Most administrators will pay a modest sum to a surviving spouse or next of kin on an affidavit of heirship, a death certificate and proof of relationship, precisely because requiring a grant for a small balance would mean nobody ever claims it. Where the sum is large enough to need a grant, the existence of the asset is itself the reason to obtain one.

"We cannot match you to this record"

high likelihood

The administrator cannot tie the claimant to the reported owner because the address on the holder's record is decades old, the name is spelled differently, or a middle initial is missing.

What answers it

This is an evidential problem, not a refusal, and it is solved with documents rather than argument. Send whatever ties your identity to the address the holder reported: an old driving licence, a utility bill, a tax return, a lease, a bank statement, a marriage certificate for a name change, or a sworn statement where nothing else survives. Ask the office in writing which specific element it cannot match so you answer the actual gap rather than resending what it already has.

Where to take it next

  1. Search UDGAM, the RBI's centralised unclaimed deposits search yourselfStart here, before anything else. Search every version of your name, former names, common misspellings, and the names of deceased relatives whose estate you may share in. Note the record reference for anything that matches.Claim directtypically 1 daysofficial page
  2. Ask the holder directly for anything not yet reportedProperty only reaches the register after the dormancy period, so the most recent money is still with the bank, insurer, employer or company that owes it. Write to them as well as searching the register, and ask specifically whether they hold any balance, dividend, refund or benefit in your name and whether it has been reported as unclaimed.Claim directtypically 30 days
  3. File a claim with the bank that held the deposit, with the money in the RBI's Depositor Education and Awareness Fund; and the Investor Education and Protection Fund Authority for dividends and sharesThe claim form is free. Send it with proof of identity and proof of the connection between you and the address the holder reported. Keep a copy of everything you send and note the claim reference.Regulatortypically 90 daysofficial page
  4. Challenge a refusalBinding on themA refusal is an administrative decision, and administrative decisions can be reviewed. Ask in writing for the reason and for the internal review or appeal route, in that order. Only a very small number of unclaimed-property claims ever need a court, and almost all of those are disputes between rival claimants to the same estate rather than fights with the administrator.Court

Documents

What this regime can produce.

Every one of these is a document you send yourself, in your own name. Duesday never writes to anybody on your behalf and is never anyone’s agent.

The same claim type elsewhere

England & Wales — unclaimed estates and bona vacantia (Administration of Estates Act 1925 s. 46)GB-EAWSub-nationalUnited KingdomAdministration of Estates Act 1925 (c. 23), s. 46(1)(vi)Confidence: mediumFrance — comptes inactifs et contrats en déshérence (loi Eckert; Ciclade)FRNationalFranceCode monétaire et financier, art. L. 312-20Confidence: highDeutschland — nachrichtenlose Konten (no central register; claim against the bank)DENationalGermanyBürgerliches Gesetzbuch, §§ 195, 199Confidence: lowIreland — dormant accounts and unclaimed life assurance (Dormant Accounts Act 2001)IENationalIrelandDormant Accounts Act 2001 (No. 32 of 2001)Confidence: mediumItalia — rapporti dormienti e il Fondo presso CONSAP (L. 266/2005, art. 1, commi 343–345)ITNationalItalyLegge 23 dicembre 2005, n. 266, art. 1, commi 343–345Confidence: mediumNederland — slapende tegoeden (bank and insurer registers; no statutory escheat)NLNationalNetherlandsBurgerlijk Wetboek, Boek 3, art. 3:306 and 3:307Confidence: lowEspaña — saldos y depósitos abandonados (Ley 33/2003, art. 18)ESNationalSpainLey 33/2003, de 3 de noviembre, del Patrimonio de las Administraciones Públicas, art. 18Confidence: mediumSwitzerland — dormant assets at Swiss banks (Banking Act art. 37m; Banking Ordinance arts. 45–59)CHNationalSwitzerlandBundesgesetz über die Banken und Sparkassen (Banking Act), art. 37mConfidence: medium

Other rights in the same countries

India — DGCA Civil Aviation Requirements, Section 3 Series M Part IVINNationalIndiaDGCA CAR Section 3, Series M, Part IV, Paras 1.2, 1.3 and 1.7Confidence: highIndia — India PostINNationalIndiaPost Office Act 2023 and the Department of Posts rules and compensation scheduleConfidence: lowIndia — IRCTC Ticket Deposit Receipt (TDR) refunds for cancelled and substantially delayed trainsINNationalIndiaRailway Passengers (Cancellation of Tickets and Refund of Fare) RulesConfidence: lowIndia — RBI e-mandate framework for recurring paymentsINNationalIndiaRBI circular DPSS.CO.PD.No.447/02.14.003/2019-20 (21 August 2019) — Processing of e-mandate on cards for recurring transactionsConfidence: mediumIndia — RBI limited liability for unauthorised electronic banking transactionsINNationalIndiaRBI/2017-18/15 — Customer Protection: Limiting Liability of Customers in Unauthorised Electronic Banking Transactions (6 July 2017)Confidence: highIndia — representative consumer complaints and s.245 Companies Act class actionsINNationalIndiaConsumer Protection Act 2019, s.35(1)(c) and s.2(5)Confidence: lowIndia — security deposit (Model Tenancy Act 2021 where adopted, otherwise State Rent Acts)INNationalIndiaModel Tenancy Act, 2021Confidence: lowIndia — the Clinical Establishments Act rate-display duty and the consumer forum routeINNationalIndiaClinical Establishments (Registration and Regulation) Act, 2010Confidence: low

Does this one reach your facts?

The engine runs every regime that could apply at once and reconciles them, rather than making you guess which page to read.

Not a law firm. Not legal advice. You send it yourself. This page describes a law; it is not advice about your situation and no outcome is promised.