Bank of Maharashtra Publishes Newspaper Notice for IEPF Share Transfer Process

Bank of Maharashtra has published comprehensive newspaper notices regarding the transfer of eligible equity shares to the Investor Education and Protection Fund (IEPF) Demat Account, following its earlier shareholder communication dated March 31, 2026. The bank published detailed notices in Financial Express (English), Loksatta (Marathi), and Jansatta (Hindi) on April 1, 2026, ensuring wide accessibility across language preferences.

Regulatory Compliance Framework

The share transfer process operates under multiple regulatory provisions recently amended on August 1, 2025. The bank is implementing these transfers pursuant to Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, read with Section 124 of the Companies Act, 2013, and the amended IEPF Rules, 2016. These regulations mandate transfer of shares where dividends remain unclaimed for seven consecutive years or more to the IEPF, unless restrained by court orders or if shares are pledged under the Depositories Act, 1996.

Regulatory Parameter: Details Amendment Date: August 1, 2025 Governing Acts: Banking Companies Act 1970, Companies Act 2013 Applicable Rules: IEPF Rules 2016 (amended) Transfer Criteria: Unclaimed dividends for 7+ consecutive years

Publication and Communication Details

The bank has fulfilled its disclosure obligations through multiple channels. Initial individual communications were sent to affected shareholders on March 31, 2026, followed by newspaper publications on April 1, 2026. Complete details of shareholders whose shares are due for transfer have been uploaded on the bank's website at www.bankofmaharashtra.bank.in .

Communication Timeline: Details Individual Notice Date: March 31, 2026 Newspaper Publication: April 1, 2026 Languages: English, Marathi, Hindi Stock Exchange Notification: April 1, 2026

Claim Process and Requirements

Shareholders can claim their unclaimed dividends by contacting the bank or its Registrar and Transfer Agent, MCS Share Transfer Agent Limited. For shares held in demat form, shareholders must provide a copy of their Demat Account Statement showing name, address, and bank account details. For physical shares, original cancelled cheque or bank-attested copy of passbook first page along with cancelled cheque is required.

Pursuant to SEBI Master Circular dated May 7, 2024, outstanding dividend payments for physical shares will be credited directly to bank accounts only if the folio is KYC compliant, requiring complete details including full address with pin code, mobile number, bank details, valid PAN linked to Aadhaar, and nomination information.

Transfer Process and Deadlines

The bank has set June 30, 2026, as the final date for submitting claims. Post this deadline, eligible shares will be transferred to IEPF without further notice. For physical shares, new certificates will be issued in IEPF's favor in demat form, rendering original certificates cancelled and non-negotiable. For demat shares, the bank will inform depositories through corporate action for transfer to IEPF.

Shareholders whose shares get transferred can subsequently claim them from IEPF by submitting online applications in Form IEPF-5 available at www.iepf.gov.in , along with requisite documents. All future benefits arising from transferred shares will also accrue to IEPF authority.

Contact Information

For queries and assistance, shareholders can contact MCS Share Transfer Agent Limited at their Mumbai office (Phone: 022-28516021-22, 46049717) or Bank of Maharashtra's Corporate Office in Pune (Phone: 020-71658139). The communication was signed by Vishal Sethia, Company Secretary & Compliance Officer, with digital signatures applied on both March 31 and April 1, 2026.

Bank of Maharashtra has announced the elevation of three senior executives to Chief General Manager positions, marking a significant development in the bank's leadership structure. The appointments, effective April 1, 2026, were communicated to stock exchanges in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Senior Management Appointments

The bank has promoted three experienced professionals who have demonstrated expertise across various banking operations. All three appointees bring substantial experience from working across the bank's three-tier structure comprising branches, zonal offices, and head office operations.

Executive Age Year Joined Educational Background Current Role Shri Devdatta Vitthal Rokade 54 years 2004 BE in Electronics & Communication Operations, Strategy, ABC & Resource Planning Shri Arun Fanidhar Kabade 57 years 1998 M Sc. in Computers FMA & Credit Agriculture Department Shri Milind Babarao Gharad 53 years 2006 B Sc. & MBA Marketing Chairman, Maharashtra Gramin Bank

Professional Backgrounds

Shri Devdatta Vitthal Rokade joined the bank as a Specialist IT officer and currently heads multiple critical departments including Operations, Strategy, ABC & Resource Planning. His technical background in Electronics & Communication has been instrumental in his banking career spanning over two decades.

Shri Arun Fanidhar Kabade, the most senior among the three appointees, began his journey with the bank as a Specialist IT officer. With his computer science expertise, he currently leads the FMA & Credit Agriculture Department, bringing nearly three decades of banking experience to his new role.

Shri Milind Babarao Gharad brings a unique marketing perspective to the senior management team. Having joined as a Marketing officer, he currently serves as Chairman of Maharashtra Gramin Bank, a Regional Rural Bank sponsored by Bank of Maharashtra, demonstrating his leadership capabilities in rural banking operations.

Regulatory Compliance

The appointments were formally communicated to both BSE Limited and National Stock Exchange of India Limited, with the bank trading under scrip codes 532525 and MAHABANK respectively. The announcement was signed by Vishal Sethia, Company Secretary & Compliance Officer, ensuring adherence to regulatory disclosure requirements.

Strategic Implications

These internal promotions reflect the bank's strategy of nurturing talent from within and recognizing experienced professionals who have contributed significantly to various banking operations. The diverse expertise of the newly appointed Chief General Managers spans technology, agriculture credit, marketing, and rural banking, positioning the bank to leverage their combined experience for future growth initiatives.

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