Govt approves 6,000 investor claims through IEPF in a span of 10 months

The IEPF Authority has found that many companies are sitting on such amounts and not transferring them to the Fund even after the time limit lapses.

The government in the past 10 months has approved over 6,000 investor claims such as matured company deposits and unpaid dividends through the Investor Education Protection Fund (IEPF) Authority, according to sources. The IEPF Authority, set up in 2016, had cleared only 800 claims till March last year.
 
The Ministry of Corporate Affairs has also issued notices to companies to submit the verification report of investor claims and also to transfer the unclaimed dividend and shares to the Fund. These monies are supposed to be moved to the IEPF if not claimed within seven years.
 
The IEPF Authority