The Government of India established the Investor Education Protection Fund Authority in the year 2016 (September 7) to manage the Investor Education Protection Fund in accordance with Article 125 of the Corporate Law of 2013.
Highlights
This authority is responsible for managing the Investor Education Protection Fund, managing unclaimed dividends, returning shares, bonds and deposits to investors, and raising investor awareness.
About Investor Education Protection Fund
The Investor Education Protection Fund was established under the Companies Act 2013. Amounts of dividends, application funds, deposits, etc. unpaid or unclaimed for 7 years must be remitted to IEPF. The amount credited to IEPF is managed under the Indian Integrated Fund which comes under Article 266 of the Constitution. The purpose of the fund is to raise investor awareness and protect investor interests.
Utilization of Investor Education Protection Fund
IEPF is used for the following purposes: Refunds for unclaimed deposits, dividends, repayment deadlines and their interest and debt securities. Promote investor education, awareness and protection.
Allotment of withdrawal to eligible and identifiable applicants, shareholders, bond holders, or depositors who have suffered losses as a result of misconduct by others, in accordance with a court order ordering the withdrawal. Reimbursement of legal costs incurred by a member, bondholder, or depositor in carrying out a class action in Articles 37 and 245, with the approval of the court, and Other relevant purposes in accordance with the rules that may be stipulated: however, the amount was then transferred to the Investor Education Protection Fund in accordance with Sections (a)-(d) of subsection (2) of Section 205C. Person A seven-year expiry under the Corporate Act of 1956 is entitled to a refund of such claims from the Fund in accordance with the provisions of this section.
About Investor Education Protection Fund Mobile App
This mobile app was created with the goal of spreading investor awareness, achieving financial literacy goals, protection and education in rural and urban areas. The app wants ease of life. It is designed for public involvement and information dissemination to raise investor awareness. The app includes the ability to track the progress and status of the IEPF refund process. It also provides mechanisms for investors as well as the general public to report various suspected schemes which might be fraudulent.
Last Modified: February 14, 2024