IEPF Claim
IEPF Authority stands for Investor Education and Protection Authority. It’s a government-held authority that operates under the Ministry of Corporate Affairs and Ministry of Finance with the motive of safeguarding investors’ interests. However, it also helps to spread awareness among them ensuring the safeguard of their investments. IEPF Claim is the process of claiming back the unclaimed dividends, shares, and investments from IEPF.
Above all, IEPF Claim involves the filing of IEPF Form-5, submission of documents, and approval from the competent IEPF authority
Okay. So what IEPF Authority got to do with my investments?
Assume, you bought some physical shares long back and lost track of them, there has been a change of address and hence no tracking! Resulting, you no longer get any dividends or letters from the company. So where do you think the unclaimed dividends and shares go? Yes, the company has it. Although the company has no right to the amount of the dividends despite being unclaimed, it stays lying in a separate bank account, with no one to claim them.
For instance, there is an old employee who had an eye on this and knew you did not claim the dividends and given he knew the right places to ping to fraudulently claim these unclaimed dividends to his account.
In conclusion, the government soon realized these fraudulent activities and the abundant amount of investment that investors have probably forgotten. Therefore, they incorporated a Fund which holds all of these unclaimed and unpaid investments. If the dividends or proceeds remain unclaimed for a consecutive span of 7 years, they are transferred from the unclaimed bank accounts to the IEPF Authority. Further, if any investor remembers their investment anytime later, they do not have to face any lame responses from the companies and RTA’s. They have the appropriate authority to go to.
Understandable! So, What is your role in IEPF Claim?
So, this is what happened with our founder’s father. He suddenly realized that his 25 years old investments, once worth thousands, are now worth millions. That raised an eyebrow! It’s only then that our founder started digging up and took up the recovery process when he realized how messed up it was! However, when he was searching for a consultant, who was willing to run an extra mile to get back the investment, he was unable to find one. That’s when Recoversy was started, with the sole intention of helping investors search and claim back their lost, forgotten, or unclaimed investments.
All in all, Recoversy is a private investment consulting company that specializes in the search and recovery of lost, forgotten, and unclaimed investments. Over the years, Recoversy has specialized in the recovery of investments via IEPF Claims from the IEPF Authority. We make sure you don’t go through the cumbersome process of searching, writing letters, filling forms, calling for confirmation, waiting for replies, etc.
Precisely, our team will take up everything and trouble you only for your signatures.
What We do?
We search & bring your Money back
No Matter What!
How do we do it ? IEPF Claim
Recoversy understands your concern and knows that every case is different but there are some ground rules we ought to follow. Don’t we.?
Validation
Documentation
Recovery
Search from our extensive database of unclaimed shares valuing more than Rs.3 lac crore to validate your holdings and find some hidden treasures under your name. We make sure what you actually hold before starting with the process. Also, check that you do not miss out on any other unclaimed investments.
We know documents are a hassle and thus we make sure that you don’t have to go through that trouble, we will take care of all the documents and communications with the companies, RTA’s and authorities, all we need is your signatures
After all the documentation and due diligence has been completed from our end we make sure that the process is swiftly completed from the companies end and forwarded to IEPF for approval. Do not worry we will take care of everything until you get all your investments back
*PRO TIP*
Use our search portal to find out if you have any other unclaimed investments. Around 90% of people who visit us find unclaimed investments under their name or their loved ones that they were unaware of.
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What does IEPF hold and what can be claimed via IEPF Claim?
IEPF (Investor Education and protection fund) Authority was incorporated by the Government of India on 7th September 2016 under the provisions of section 125 of the companies act, 2013.
What all is transferred to IEPF?
- The dividends which are unclaimed with the company are maintained in a separate bank account. If they are unclaimed for 7 consecutive years the dividends are then transferred to the IEPF Authority
- Shares w.r.t these unclaimed dividends unclaimed for 7 consecutive years are also transferred to the IEPF Authority. Thus, if you have not claimed your dividends for 7 consecutive years your shares are now under the custody of the IEPF Authority.
- Any benefits accruing on behalf of the shares transferred to IEPF viz bonus shares, split shares, sale proceeds for fraction shares issued, and dividends all are transferred to IEPF.
- Unclaimed matured debentures, interest on debentures, matured deposits, and interest on matured debentures if unclaimed for 7 consecutive years all are also transferred to IEPF
- If any application money for shares, or interest on application money remains unclaimed with the company for 7 consecutive years it is also transferred to IEPF
How to claim from IEPF?
All the above amounts transferred to IEPF can be claimed via IEPF Claim form IEPF Form-5. Depending on case to case basis there may be multiple pieces of documentation and affidavits that need to be submitted for claiming the shares from IEPF.
Recoversy is an expert in the recovery of investments from IEPF and can take care of all the processes and documentation required for claiming your investments from IEPF. For more details regarding the recovery of your investments you can contact us directly. Connect with us via our contact details below or chat with us for instant clarification.
Documents required for IEPF Claim
- Mandatory documents required for IEPF Claim of shares
- Aadhaar card of all the shareholders
- PAN Card of all the shareholders
- Cancelled cheque of the bank account of any of the shareholder
- CML (Client Master Ledger) copy of demat account in the form of shareholding
- Investment proof or entitlement letter from the company/RTA
Optional documents depending on case to case basis along with mandatory documents
- The demise of Joint shareholder
- Death certificate of the shareholder
- Death of all shareholders
- Legal heir certificate / Rashan card with details of all family members/family deed
- Death certificate of all shareholders
- Succession certificate / Probate of will / Letter of Administration or court decree (If the market value of shares per company is more than Rs.5 lac)
- Loss of share certificates
- FIR Copy / Police complaint about loss of certificates
- Surety affidavit worth market value of shares
- Indemnity bond for loss of share certificates
- Copy of advertisement in English and regional language newspaper
- Shares held in demat form
- Transaction statement of demat account duly certified by Depository Participant
Overwhelmed?
Let us be your guiding lights and take up everything. We will take care of the IEPF Claim process and whatever else is needed to get back your investments.
Connect with us today to start with the IEPF Claim process or fill in the short form below, one of our recovery experts will connect with you shortly.