1. IEPFA comes under the Ministry of Corporate Affairs.
The mandate of IEPFA is to build investor awareness among various stakeholders in the rural and urban areas. The Government of India has on 7th September 2016 established the Investor Education and Protection Fund Authority (IEPF Authority) under the provisions of section 125 Companies Act, 2013 to inter-alia promote investors’ education, awareness and protection apart from making refunds of shares, unclaimed dividends, matured deposits / debentures to the investors. IEPFA also strives to provide investors with requisite knowledge and skills pertaining to investor education and protection.
2. Responsibility of the Authority:
The Authority is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures, etc. to investors and to promote awareness among investors.
3. Investor Education Protection Fund (IEPF) & Its Utilization
The IEPF is to be utilized for;
• The refund in respect of unclaimed dividends, matured deposits, matured debentures, the application money due for refund and interest thereon
• Promotion of investors’ education, awareness, and protection
• Distribution of any disgorged amount among eligible and identifiable applicants for shares or debentures, shareholders, debenture-holders or depositors who have suffered losses due to wrong actions by any person, in accordance with the orders made by the Court which had ordered disgorgement
• Reimbursement of legal expenses incurred in pursuing class-action suits under sections 37 and 245 by members, debenture-holders or depositors as may be sanctioned by the Tribunal and
• Any other purpose incidental thereto, in accordance with such rules as may be prescribed: Provided that the person whose amounts referred to in clauses (a) to (d) of sub-section (2) of section 205C transferred to Investor Education and Protection Fund, after the expiry of the period of seven years as per provisions of the Companies Act, 1956, shall be entitled to get refund out of the Fund in respect of such claims in accordance with rules made under this section.
In view of the above mentioned features of IEPFA, IEPFA launched Web Form IEPF -5 for Application to the Authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund (IEPF).
2. Salient features of the Web Form IEPF-5 initiatives are as follows :
i. Refund of the claimants becomes quicker and easier with the introduction of new web form IEPF -5.
ii. Web Form IEPF-5 acts as a single form for claim of shares, unclaimed dividends, matured deposits/debentures, etc.
iii. Filling of Web Form IEPF-5 saves time to get refunds at IEPFA, Ministry of Corporate Affairs.
iv. Claimants and Shareholders can attached all the relevant documents in Web Form IEPF-5 as per the checklist provided in Web Form IEPF-5.
v. Claimants can filled the Web Form IEPF-5 with the Mobile and Email OTP Verification.
vi. Claimants get the refunds after the Company verified the claim in the E-Verification Report with the clear recommendation of Approval of claim.
3. In order to help the claimants and Shareholders to derive greater benefits to claim refunds from IEPFA, Ministry and to enthuse common citizens of India and public at large towards the initiatives of IEPFA, the Ministry of Corporate Affairs is undertaking Quiz Competition through MyGov platform designed to promote and raise awareness about various aspects of IEPFA.
1. The Quiz is being organized by IEPFA, Ministry of Corporate Affairs, Government of India.
2. This is a timed quiz with 10 questions to be answered in 400 seconds. These questions will be randomly picked from the question bank.
3. Winners will be adjudged on the basis of maximum number of correct answers.
4. In case of multiple participants having given same number of correct answers, the participants who take the least time to complete the quiz will be adjudged the winner.
5. You can skip a tough question and come back to it later.
6. There will be no negative marking.
7. All the questions are available in English language only.
8. The quiz will start as soon as the participant clicks the Start Quiz button.
9. Entry into the Quiz is open to all entrants who are residents of India or are of Indian origin.
10. You will be required to provide your name, email address, telephone number and postal address. By submitting your contact details you will give consent to these details being used for the purpose of the Quiz.
11. Once submitted an entry cannot be withdrawn.
12. One entrant can participate only once. Multiple entries from the same entrant will not be considered and will be discarded.
13. Organizers will not accept any responsibility for entries that are lost, are late or incomplete or have not been transmitted due to computer error or any other error beyond the organizer’s reasonable control. Please note proof of submission of the entry is not proof of receipt of the same.
14. If a winner is not contactable within three working days from the result announcement, he or she will forfeit the prize and another winner will be selected from the remaining eligible entries in accordance with the above process until a winner is selected and can be contacted.
15. In the event of unforeseen circumstances, organizers reserve the right to amend or withdraw the Quiz at any time. For the avoidance of doubt this includes the right to amend these terms and conditions.
16. The Participant shall abide by all the rules and regulations of participating in the Quiz from time to time.
17. Organizers reserve all rights to disqualify or refuse participation to any participant if they deem participation or association of any participant which is detrimental to the Quiz or the Organizers or partners of the Quiz. The registrations shall be void if the information received by the Organizers is illegible, incomplete, damaged, false or erroneous.
18. Organizer’s decision on the Quiz shall be final and binding and no correspondence will be entered into regarding the same.
19. By entering the Quiz the Entrant accepts and agrees to be bound by these Terms and Conditions, mentioned above.
20. These Terms and Conditions shall be governed by the laws of the Indian Judiciary.