The IEPF’s objectives in India are to defend investors’ rights, advance investor education, see to it that unclaimed funds are used, and promote responsibility and transparency in the financial industry.
Retrieving Shares from IEPF: Step-by-Step Recovery Process
Verification: Establish if unpaid dividends or unclaimed shares make certain shares transferable to the IEPF.
Claim Submission: On the IEPF website, fill out the online claim form and attach the necessary files.
Firm verification: If the claim is found to be legitimate, the firm confirms it and gives its approval.
Transfer to IEPF Authority: If the transfer of unclaimed shares is approved, they are delivered to the IEPF authority.
Claim Verification: The IEPF verifies a claim’s validity and distributes shares to the claimant’s Demat account if it is valid.
Settlement of the Claim: The claim is resolved, and the claimant is given custody of the shares once more.
Essential Documentation for Reclaiming Shares from IEPF
Fill out the necessary claim form, which is available on the IEPF website.
Give a copy of an identity card that is currently valid, such as a passport, voter ID, Aadhaar card, or PAN card.
An Aadhaar card, passport, utility bill, bank statement, or other form of address verification should be given.
Share certificates, Demat account statements, or transaction receipts are a few examples of the kinds of proof of ownership that must be offered.
A statement from the corporation outlining Unclaimed Shares should be enclosed, if appropriate.
In rare cases, it may be essential to provide an indemnity bond and an affidavit on stamp paper proving ownership and defending the IEPF’s jurisdiction.
As evidence of your bank account details, enclose a voided check or bank statement.
Passport-size Photo: In this part, provide a recent picture of the claimant.
