IEPF stands for Investor Education and Protection Fund Authority.

Established under Section 125(1) of the Companies Act 2013, IEPF is a government institution overseen by the Ministry of Corporate Affairs (MCA). Its primary objectives are investor education, safeguarding investor interests, and the management of unclaimed dividends and securities.

In accordance with Section 124(5) of the Companies Act 2013, any dividend unclaimed for seven consecutive years is legally obligated to be transferred to the IEPF. Additionally, as stipulated in Section 124(6) of the same Act, shares for which dividends have gone unclaimed for seven or more consecutive years will also be transferred to the IEPF.

To know more, visit Visit IEPF Website

Investments made in the 80s, 90s, or early 2000s were typically documented through physical share certificates. Over time, these records were often lost or misplaced. Redemption cheques, dividend warrants, and other payments also got lost due to outdated or inaccurate addresses. Additionally, name changes due to marriage, remarriage, or divorce further complicated matters. In some cases, investors simply forget about their holdings, especially if they were acquired long ago. Complex claim procedures, financial illiteracy, and the demise of an investor can also contribute to unclaimed investments. To prevent this, maintaining accurate records, staying informed, and updating information are crucial steps for investors.

Making claims for shares with IEPF authorities and getting back shares along with dividend is a tedious, time-consuming process and requires legal and technical knowledge. It requires protracted communications with the Company, its Registrar and Transfer Agents (R&T Agents) and IEPF authorities. Dealing with the bureaucracy isn’t easy in India and dealing with them with various issues like your name as per the Company records not matching with PAN Card / Aadhar card, change in name post-marriage, PAN Card / Aadhar card not matching with deceased shareholder, absence of share certificate etc., can make the work complex. Several legal documents like KYC documents, Indemnity bonds, affidavits, banker-attested signatures, and surety / guarantee bonds for duplicate bonds need to be given. This can be handled by persons with experience in IEPF and sound technical and legal knowledge.

In future, the law may become more complex, the rules may become harsher and recovery process may become lengthier.

SIP MF Services LLP is a Limited Liability Partnership registered with the Ministry of Corporate Affairs having registration no. LLPIN: AAL-8660 and has registered office in Bengaluru. Apart from our expertise in various investment solutions, our firm specializes in recovering IEPF shares and dividend. While our headquarter is located in Bengaluru, our reach spans the entirety of India, ensuring our valued clients receive top-notch services, irrespective of their location. Share Wapsi is a project of SIP MF Services LLP

In the IEPF process, if you are legal heir, the process might require you obtaining a Probate or Succession certificate or Letter of Authorization from the court. This involves hiring a lawyer/attorney which may be either done on your own or we can assist you in the same on request. Court fees varies from one Jurisdiction to another based on the State & the same has to be borne by you, i.e., legal heir.

Claiming unclaimed shares from the Investor Education and Protection Fund (IEPF) typically involves a specific procedure. Below are the general steps tp claim unclaimed shares that you can follow: