News

• In a major success, the IEPF Authority has been able to enforce a company to transfer deposits worth about Rs 1514 Cr to IEPF.

• This depositor’s money was pending with the company for the last 15 years.

Investor Education and Protection Fund (IEPF)

• IEPF is a fund where unclaimed dividend, refunded application money, matured company deposits and debentures, as well as the interest on them, is used, provided it is not claimed within seven years.

• It is a fund set up under the Ministry of Corporate Affairs to help promote investor awareness and protection of investor interests.

About IEPF Authority

• IEPF Authority has been set up under the Ministry of Corporate Affairs, Government of India as a statutory body under Companies Act 2013 to administer the IEPF with the objective of promoting Investor’s Education, Awareness and Protection.

• The Authority takes various initiatives to fulfil its objectives through Investor Awareness Programmes and various other mediums like Print, Electronic, Social Media, and Community Radio etc.

• Secretary Ministry of the Corporate Affairs is the Chairperson of the Authority.

• Joint Secretary Ministry of the Corporate Affairs is the Chief Executive Officer of the Authority.