Process to Get Back Shares From IEPF

Many People invest money in shares, but either they forget to use them or they expire before they can be utilized, leaving the money unclaimed for a very long time. As a result, the Investor Education and Protection Fund (IEPF) was established by the Ministry of Corporate Affairs (MCA) to recover shares from the IEPF and guarantee that the correct individual can acquire and transfer unclaimed shares.

According to the provisions of Section 124 of the Companies Act of 2013 and the Investor Education and Protection Fund Authority Rules of 2016, a business's shareholders may be entitled to a return of their unclaimed shares that were transferred to the IEPF by the firm. This blog assists you by answering all of your questions about obtaining a claim from the IEPF and explains the step-by-step process for recovery shares from the IEPF.

Read also this -: Top Reasons for Share Buyback

Who can apply for recovery of shares from IEPF?

Any shareholder who has unclaimed shares that have been transferred to the IEPF may apply to the IEPF Authority for the recovery of shares from IEPF.Before filing for the recovery of shares from the IEPF, the claimant's company completes the share transmission procedure with an entitlement letter if they are the registered shareholder's legal heir, nominee, or successor.

What is the Process to Claim a Refund?

  • Visit the official website of the IEPF to download Form IEPF-5 for Recovery of Shares From IEPF.
  • Once the required information has been provided and all requirements have been carefully reviewed, tick the box provided in the declaration.
  • After filling out the form, save it to your computer, then submit it.
  • Visit the IEPF website and choose the Upload Form IEPF-5 option.
  • Using your login information, visit MCA21 to upload a form to seek a refund.
  • Next, after selecting, choose a payment method. To trace the status of the report, submit, and an acknowledgment in the form of an SRN will be generated.
  • When you select the Pay Now option, no-fee pages will appear; you must click Finish to finish the transaction. A generated acknowledgment will be sent.
  • To obtain Recovery of Shares From IEPF, print out the filled-out IEPF-5 and the acknowledgment that was sent when the form was posted.

    • Information necessary to complete the form

  • Details regarding the applicant.
  • By inputting the company name or current registration number, type in the company's legitimate CIN.
  • Information on the shares, including the folio ID for recovery of Shares From IEPF.
  • Information about the total cost and number of claims.
  • Securities or deposits that are the subject of the claim.
  • Passport, OCI, or PIO Card Number (for NRIs or foreigners), or Aadhar Number (for Indian citizens).
  • details regarding the bank account used for the recovery of Shares From IEPF.
  • Demat Account Number.
    • Read also this -: How can I recover my lost shares in India

    Conclusion

    By applying to the IEPF Authority, any shareholder whose unclaimed shares have been forwarded to the IEPF may recover those shares. However, a claimant is only permitted to submit one consolidated claim for a corporation every fiscal year, and that claim must include information from all of the company's folios. By reading this blog, we hope you will gain an understanding of the procedure for recovering shares from the IEPF. If you still need help, you can speak with a Legalraasta advisor.

    Location: India

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