Have your shares been transferred to IEPF? Do you need to learn why the funds get transferred to the IEPF? In this blog, we will learn comprehensively about everything related to IEPF and share recovery in India.
Investor Education Protection Fund Authority (IEPFA) is a government-authorized body that was established to promote investor awareness, encourage market research, educate them to make well-informed investing decisions and protect their shares from loss or misuse. IEPFA shares many guidelines for companies that require the companies to inform the IEPF authority regarding unclaimed dividends. One of these guidelines is that companies must transfer the shares of unclaimed dividends to their fund if they remain unclaimed for seven consecutive years. However, these shares can be reclaimed by following the legal procedures prescribed by IEPFA. Let’s learn about the steps involved in Investor Education Protection Funds Shares recovery in India.
Steps in IEPF Share Recovery
If you are a claimant, here are the guidelines mandated by IEPFA, following which you can recover the shares from these funds:
- Go to the official site of the Ministry of Corporate Affairs (MoCA) to check if you have any unclaimed dividends.
- Contact the shareholding company to track the status of your dividend.
- Gather all the necessary documents like share certificate, bank details, ID proof, Demat account details, indemnity bond, etc. In cases where shares are to be claimed by the legal heir or loss of the physical certificate, further documents need to be acquired.
- Attach these documents to the IEPF-5 form available on the MoCA website.
- Submit the form to the company’s nodal officer.
- The company will verify the claim.
- The claim with be reviewed by the IEPF authority, and a refund will be sanctioned, after which the shares will be sent to your Demat account.
Why Choose Recovery Experts
As we can realize after reading the above procedure, the recovery process is long, tedious and uncertain. To parse through this procedure successfully and in the least amount of time, Share Connection have experts from the field of finance and law to help you with Investor Education Protection Funds Shares recovery in India. They have firm clarity regarding the nitty gritty of law, the right connections, communication skills and experience. By choosing our recovery experts, you will get personalized handling of your case. These experts help in gathering the documents, suggesting legal steps in case of a lack of any document, submission, communicating with the Nodal officer for verification, and making sure the verification and review go in your favour.
Conclusion
We can conclude that in case of shares recovery from IEPF, consulting the experts to handle your case is the most reliable way. Share Connection has more than 35 years of experience handling complex share recovery cases for clients across India. Besides our IEPF share recovery services, we also offer assistance in issuing duplicate share certificates, succession certificates in the name of legal heirs, dematerialization, and buy/sell non-listed shares. With our dedicated support and legal aids, we assure our clients in case of share recovery from IEPF.