Investor queue outside IEPF grows longer by the year, shows data

The value of dividends lying unclaimed is Rs 5,539.25 crore as of October 2022, according to Lok Sabha data

A government body holding ‘unclaimed’ shares has seen a surge in pending applications for their refund.

The number of pending applications stood at 23,969 as of January 2022-23, shows data from the Investor Education and Protection Fund Authority’s (IEPFA) annual report. This is an almost 32-time increase from 756 in 2017-18.

The annual report says that pending applications are the result of want of clarification, rectified documents, and reports from company or claimant.

“Notices are issued from time to time to the companies and claimants for early settlement of the claims,” said the annual report.

The body declined a plan