Are you looking for IEPF Refund? If yes then you’re at the right place, please continue reading this article!
Investor Education and Protection Fund (IEPF) has been established under Section 205C of the Companies Act, 1956 by way Companies (Amendment) Act, 1999 for promotion of investors’ awareness and protection of the interests of investors.
If you do not claim your dividend for 7 years, then it is handed over to the IEPF refund authority created by the Government of India so that your money is kept in safe custody and the company cannot misuse it.
The rule of IEPF says that 2 months before the company transfers unclaimed dividends, shares, debentures to IEPF authorities, will try to find investors through mail, post and telephone and tell them that we have your unclaimed amount. You take it or else it will be given to IEPF. But very few people are able to find in this process because almost everyone’s address, email, phone has changed over time. That is why you must have seen that nowadays every company keeps updating KYC time to time so that important information can be given to investors without any glitch.
Even after informing, if someone does not make a claim, then it is given to the IEPF refund authority and the company puts this information on its website so that anyone can see it, and can take the information from there while claiming their IEPF refund or claim.
Now once your belongings transferred to IEPF and if you want your money back then you have to fill the IEPF refund Form-5 along with requisite documents and give it to the Nodal Officer appointed by the IEPF. This process may take from 1 month to 1 year, depending on which category your case belongs to.
With the IEPF Authority, you can not only claim a dividend, but can also claim a share refund matured deposit / debentures, etc. The IEPF Authority keeps the investors aware of these things from time to time by running various programs. However, despite the efforts by company and IEPF, still huge sum of unclaimed money is kept with IEPF refund authority.
We have seen in so many years that many people are not able to claim their shares, debentures, dividends etc. from IEPF because it is not as easy as the process looks. There is a lot of complexity in this especially when you are claiming the money of a person who is no longer in this world.
A lot of people come to our website IEPFZone.com and say that we are not able to claim because IEPF is not listening to us, IEPF rejects our claim because our form has a loophole and sometimes the signal gets mismatched etc.
All such problems come to us, which our experts very easily understand and deal with the whole case. We tell people why their form has been rejected by the IEPF Refund Authority. We show them what to do and what requisite documents you have to attach with the claim form so that you can get your refund easily and you do not have to run around.
We at IEPFZone have a team of CAs, Lawyer and Market experts and IEPF Consultants who have been handling these cases for many years. So what are you waiting for, come to us and claim your IEPF refund.