We’ve seen a number of examples in the past when people aren’t getting their claims or dividends paid out for a variety of reasons, such as death, injury, or misplaced certificates. Because of this, the government received money, unclaimed dividends, or shares, which were then used for the general welfare of the country. Consequently, the government established an official entity known as the IEPF for this reason. The Investor Education and Protection Fund, or IEPF, helps shareholders and diverse consumers with their issues.
With this body, shareholders can claim shares from the IEPF account. So, this blog talks about what is IEPF & how the entire procedure works. If you have any doubts regarding transferring or the process of IEPF you can consult our legal advisor for the same.
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When unclaimed firm shares, debentures, and bonuses were transferred to a government agency for the benefit of the public and shareholders were unable to make a claim on such shares. Then, the government established an organisation called IEPF, through which any investment that goes unclaimed or underpaid for 30 days is moved within 7 days from the underpaid Dividend Account to the IEPF Account. An organisation or shareholder may claim shares from IEPF through IEPF.
Read Also This – Detailed Procedure for Recovery of Shares From IEPF
The lost and unclaimed share can be because of many reasons like loss, damage, Mutilated Share Certificates, expired Records, Improper execution of transmission, death, etc. IEPF stands for Investor Education and Protection Fund serves as a government Body & authorities like SEBI and MCA are in charge of transferring or recouping such kinds of securities through a well-defined procedure. Some of the reasons for the recovery of Shares From IEPF are mentioned below which can be a little complicated & shareholders need to take cautious advice from a well professional or skilled person to make the process faster & hassle manners. So you can also consult India’s Best Share Recovery Consultant which can give you the best assistance in such a process.
The lost and unclaimed shares may have been misplaced, damaged, destroyed, destroyed, expired records, improperly sent, deceased, etc. The Investor Education and Protection Fund, often known as IEPF, is a government agency, and organisations like SEBI and MCA are responsible for transferring or recovering these types of securities through a clear process. The following list contains some of the most complicated grounds for recovering shares from the IEPF. In order to expedite and simplify the procedure, shareholders should heed the counsel of professionals. Therefore, you may also speak with India’s Best Share Recovery Consultant who can offer you the best help throughout such a process.
1. Reading advice: Download the Instruction Page for recovery of Shares from IEPF from the official website of IEPF before filling out the online IEPF-5 form.
2. Filling out the IEPF-5 application form: To claim shares from the IEPF, applicants must complete the application in the format specified and include all pertinent information.
3. Obtaining an automatically produced number: After submitting an online form, you will receive an automatic acknowledgment number, also known as a Service Request Number (“SRN”), which you can retain to monitor the progress of your application.
4. Submission of paperwork to the appropriate authority: After completing the online form through the IEPF, the company or shareholder must send the form, supporting documentation, and the aforementioned Service Request number to the Nodal Officer/Registrar of the company in order to begin the claim’s verification.
5. Verification of the completed form: After the relevant authority has examined the application and supporting documentation, within 15 days, they will produce a company’s verification report. Based on this report, the IEPF account will release the refund in favour of the claimant’s Aadhaar-linked bank account via electronic transfer. And the form should be amended and resent if any changes or modifications need to be made.
6. Claim from IEPF: Shareholders may now request shares from the IEPF account when the concerned authority has been satisfied by reviewing the papers and claim form. At that point, the concerned authority will proceed with the refund of the money to the account.
If shares or unclaimed dividends are not utilized, claimed, or paid for within 30 days of the declaration date, they are transferred to the unclaimed dividends account and subsequently to the IEPF if they are not used for 7 years in a row.
Therefore, you can claim shares from the IEPF by simply following the aforesaid approach or by getting in touch with the top share recovery consultant in India, such as Legalraasta, who can provide you with the necessary assurance for getting the claim.
We may now draw the conclusion that the IEPF is the recognized government agency through which you can reclaim shares or dividends that have gone unclaimed for a variety of reasons, including an incorrect entry, a deceased individual, jointly held securities, an incorrect submission of a deed, etc.
We are here to help you with the proper steps for claiming shares from iepf if you are one of the victims of issues relating to unclaimed shares or dividends, even after the government has taken steps to ensure the security of unclaimed dividends, deposits, debentures, split shares, bonuses, etc.
Without proper guidance about the entire process and its legalities, recovering shares can become complicated and time-consuming. To avoid this, contact Legalraasta, the Best Share Recovery Consultant in India, at any time you need assistance.
We hope you fully grasped the procedure for obtaining claims from iepf. If you thought our article was relevant and helpful to others as well, please spread the word to other social media sites and those in need.