What Is The Process Of Recovery Of Shares In IEPF?

Contact the Ministry of Corporate Affairs to recover your investor education and protection fund (IEPF) shares. The scope of the IEPF is covered by sub-sections (5), (6), and (7) of Section 125 of the 2013 Companies Act, which protects the rules made for investors and companies connected to the IEPF, which was created to safeguard the interests of investors who invest in the Indian Stock Exchange and whose dividends have not been paid from IEPF Shares Recovery. Except for bonus shares of seven years, when dividends on shares are not claimed or encashed for seven straight years, they are transferred to the IEPF Authority. For this reason, shareholders should promptly claim their dividends and keep track of their funds. As a result, this blog discusses the procedure for IEPF shares recovery, and if you're interested in doing the same, you've come to the correct spot since we're here to provide you with complete guidance so that you can receive your refund from Iepf.

Introduction To IEPF

The IEPF Authority is in charge of managing the Investor Education Protection Fund (IEPF) and offers refunds to investors for unclaimed dividends, matured deposits or debentures, and interest. It is also accountable for educating investors and defending their rights in the money market so that you can receive your IEPF shares recovery refund in your bank account.

Rules under Section 125 of the 2013 Companies Act:

  • Amounts in the corporations' unpaid dividend accounts to collect IEPF shares.
  • Debentures that have matured and deposits with businesses.
  • For the purpose of recovering IEPF shares, application funds received by the firms for the allocation of any securities are due for reimbursement.
  • Amounts related to unpaid dividends and matured bonds have interest accrued on them.

Step-by-Step approach for IEPF shares recovery

  1. The first stage is to submit an application for the recovery of shares on the official IEPF government portal, together with any supporting documentation from the claimant or client.
  2. The second step is for the claimant to deliver a copy of the form to the company's registrar or the IEPF Nodal Officer for IEPF shares recovery in an envelope labeled "Refund Claim from IEPF Authority."
  3. The next step is for IEPF authorities to examine the application form and supporting documentation and to deliver a verification report within 15 days of any necessary revisions.
  4. Within sixty days of the report's submission, the IEPF authority will decide whether to pay the claimant for bank account transfers if they receive assurance that the information and application provided by the claimant are accurate and comply with rules under Section 125 of the 2013 Companies Act.
Read Also This - Who can help recover unclaimed shares in India

Final words

The MCA and SEBI are making a very positive effort by giving legitimate shareholders a chance to recover their funds through the IEPF. It also takes a lot of skill and experience to ensure that the IEPF shares recovery process runs smoothly and that legitimate shareholders receive their securities in a quicker and smoother manner so that you can talk to our Legal advisor for assistance. We trust that you fully comprehend the procedure for recovering shares in the IEPF, but if you have any questions, feel free to contact our legal adviser at Legalraasta, who can offer you comprehensive assistance and support in this regard.

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