IEPFA Proposes Simplified Documentation for Low-Value Claims to Enhance ease of living
IEPFA Proposes Simplified Documentation for Low-Value Claims to Enhance ease of living
Suggestions, once adopted, would be applicable to claims valued up to ₹5 lakh (physical securities), ₹15 lakh (demat securities), and dividends up to ₹10,000, as suggested by the Committee
The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, had formed a Committee to review existing procedures and recommend reforms for simplifying documentation in low value claim cases. This initiative was expected to significantly reduce timelines, improve transparency, and provide hassle-free services to investors.
The Committee comprised representatives from the Ministry of Corporate Affairs (MCA), the Investor Education and Protection Fund Authority (IEPFA), the Securities and Exchange Board of India (SEBI), the Institute of Chartered Accountants of India (ICAI), the Institute of Cost Accountants of India (ICMAI), the Institute of Company Secretaries of India (ICSI), the Federation of Indian Chambers of Commerce and Industry (FICCI), the PHD Chamber of Commerce and Industry (PHDCCI), the Confederation of Indian Industry (CII), and the Registrar Association of India (RAIN). The Committee had submitted its report to the IEPFA.
The suggestions, once adopted by IEPFA, would have been applicable to claims valued up to ₹5 lakh (physical securities), ₹15 lakh (demat securities), and dividends up to ₹10,000, as suggested by the Committee.
About IEPFA
The Investor Education and Protection Fund Authority (IEPFA) was established on September 7, 2016, under the Ministry of Corporate Affairs, Government of India. IEPFA is responsible for managing the Investor Education and Protection Fund, which focuses on safeguarding investor interests by facilitating the refund of shares, unclaimed dividends, and matured deposits/debentures. Through its initiatives, the IEPFA aims to ensure transparency, protect investors’ rights, and promote financial literacy across the country.
