New Delhi: The Investor Education and Protection Fund Authority (IEPFA) underneath the corporate affairs ministry goals to expedite switch of outdated unclaimed shares and dividends to traders inside 30-60 days, its CEO Anita Shah Akella mentioned Monday.
The goal is to switch low-value claims inside 30 days, and bigger claims inside 60 days. At the moment, it usually takes for much longer for claims to be processed, regardless of enchancment in recent times. “Our imaginative and prescient is evident, and it’s formidable,” Akella mentioned. “We are going to use the twin astra (weapon) of expertise and guidelines to realize this.”
She was talking at an occasion within the capital to mark the ninth basis day of the IEPFA. Shares, dividends and matured debentures that aren’t claimed for seven years by traders are transferred by firms to the IEPFA.