Source: The post is based on the article “IEPFA and NCAER jointly organize workshop on ‘Investor Education and Protection Policy in India” published in “PIB” on 12th December 2023
Why in the News?
The Investor Education and Protection Fund Authority (IEPFA) and the National Council of Applied Economic Research (NCAER) have jointly organized a workshop on “Investor Education and Protection Policy in India: Claiming the Unclaimed”.
What is the Investor Education and Protection Fund Authority (IEPFA)?
| Specifications | Details |
| Established in | 2016 under the Companies Act, 2013 |
| Nodal Ministry | Ministry of Corporate Affairs |
| Functions | 1) To administer the Investor Education and Protection Fund 2) Make refunds of shares, unclaimed dividends, matured deposits/debentures etc. to investors. 3) To promote awareness among investors. |
What is the Investor Education and Protection Fund (IEPF)?
1) Investor Education and Protection Fund (IEPF) has been established under Companies Act, 1956 by way of Companies (Amendment) Act,1999.
2) The amounts such as dividends, applications money, matured deposits etc which have remained unpaid or unclaimed for a period of 7 years are required to be transferred to the IEPF.
3) The amount credited to IEPF is maintained under the Consolidated Fund of India (Article 266 of the Constitution).
4) IEPF is to be utilized for-
a. Refund of unclaimed dividends, matured deposits, debentures, etc.
b. Promotion of investor’s education. awareness and protection.
c. Distribution of any disgorged amount among eligible and identifiable applicants for shares or debentures, shareholders, debenture-holders or depositors who have suffered loss due to wrong actions by any one person, in accordance with the ordered made by the court which had ordered disgorgement.
What is the National Council of Applied Economic Research (NCAER)?
Established in 1956, NCAER is India’s oldest and largest independent, non-profit, economic policy research institute.
Click here to read more on NCAER
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