The Nutshell that Breaks 5 Easy Rules for IEPF Recovery

 As investors, there are times when your investments become unreachable, especially when you did it years ago. Thinking it to be buried in some loophole, you lose hope on recovering them. However, It is certainly possible to get back your money or investment. 

Recently, the guidelines announced by the government in 2017 has made it pretty easier for the investors to get not just dividends but shares regularized too. 

But what will you have to do for it? The only solution at hand is IEPF for which it’s important to have a great authority with utmost deep experience in this field of retrieving blocked investments known as IEPF is at its peak.

Investor Education and Protection Fund (IEPF), set up by the Ministry of Corporate Affairs (CMA), and established by the Government of India in 2016 is the fund that provides protection to investors against unscrupulous activities of certain market players. 

In simple words, IEPF is a trust fund of SEBI, under the provisions of section 125 of the Companies Act, 2013; that provides funds to investors in case of default by their financial service providers – stockbroker, mutual funds, IPO, etc.

Now, this means that even if you have lost the document, changed your location or even lost the track record due to some circumstances, IEPF safeguard all of them for recovery. All you need to do is consult the right IEPF professionals. 

There are many examples of people who have forgotten about the shares which have been lying with a broker or a company without being claimed by anybody or even lost it entirely. Anytime that you decide to claim the same, your trusted investment professional is just a click away! (CTA button or link)

Abide by these 5 Rules for  IEPF Shares Recovery 

If you are one of the people who have unclaimed shares lying with a stockbroker, corporate bodies, or any institution then probably you must abide by these rules, and clear your lack of awareness regarding IEPF to claim for IEPF shares recovery. 

1. If your shares, unclaimed dividend, matured debenture, matured deposits, or/and application money is due for a refund then you can easily claim an application in Form IEPF 5. You can fill and submit the application form online to claim back your investment under SEBI IEPF management.

2. After filling the form, for the verification of your claim, you need to directly send a copy of IEPF5 duly signed by you along with the documents mentioned below 

1. Copy of Acknowledgement
2. Indemnity Bond
3. Advance Stamped Receipt
4. Copy of Aadhar
5. Cancelled Cheque
6. Original Certificate
7. Proof of entitlement
8. Copy of Passport, OCI, and PIO card in case of foreigners and NRI) as enumerated in Form IEPF-5

3. Within 30 days of receipt of the claims form, the company will send the final report to the IEPF Authority along with all supporting documents and in the specified format, as demanded by them. Once the verification is done, the concerned authorities will present you with a bill and issue a refund sanction order along with the verification and approval. Additionally, they will credit the shares present with the depository participant in the IEPF suspense account or the required one. 

All the payments made by IEPF shall be noted.

4.  The IEPF rules systemize the claim verification procedure in a manner so as to fix a specific time period for the completion of various steps in the process. In fact, the present arrangement provides that an application received for refund shall be disposed of within 60 days from the date of receipt of verification report from the company, complete in all respects, and any delay beyond sixty days shall be recorded in writing specifying the reasons for the delay and the same shall be communicated to the claimant in writing or by electronic means.

5. If in case the application is incomplete,  you will receive a communication from the authority detailing deficiencies of the application. If the claimant is a legal heir, successor, administrator, or nominee of the registered security holder, he has to ensure that the transmission process is completed by the company before filing any claim with the authority.

Also, make sure you file only one consolidated claim in respect of a company in the respective financial year.

There are high chances that you might not get easily engrossed in such legal complications. However, if such is the case you can ease your recovery by reaching out to us. 

As an IEPF consultant in India, we have a long record in assisting claimants in receiving recovery from the IEPF Authority in terms of both unclaimed dividend amount and the shares transferred to the IEPF Demat Account. With years of experience in this field, we are the leading agents for Financing solutions for claims IEPF related matters. We provide end-to-end resolution to every single element of the claims that are covered under any act. Whether it is covered by insurance or not, we will take up the initiative to deal with the matter strictly. As an award winning service provider in this industry, we assure you of all your query being answered within 24 hours. Our team of experts will take care of your queries with guaranteed satisfaction so you don’t have to stress on your IEPF recovery.